I don't know about your area, but here in Hamden, CT, the market has really picked up. There are lots of buyers looking to get into a contract on a home before the April 30th deadlline, to qualify for the tax credit. We are even seeing mulitple offers on homes. It's been a while since we saw that. I expect the next two weeks to be a marathon, but at sprinting speed.
The first time homebuyers tax credit helped our real estate market at the end of last year. The first quarter of this year was slow, but April has really taken off. Typical - we all wait until a deadline is looming to react. My office is near a post office, and it was amusing to see the traffic jam on Aprill 15th.
Buyers are still conservative and cautious. Everyone has been bruised by the recession. When we do get a high offer on a property, we are nervous about the appraisal. I suspect that prices would be rising, but for conservative appraisals. I am cautiously optimistic about this real estate market - and hope the momentum continues after May 1st. Agents and buyers: put on those running shoes, and good luck to all!