At last, a very impressive gain in pending home sales in Massachusetts, increasing by 17 percent last month for single-family homes and by nearly 10 percent for condos.
This is great news.
No MAR stats on new listings and inventory etc. But an increase in sales bodes well for the market.
From MAR’s press release:
WALTHAM, Mass. – August 12, 2014 – Pending home sales across the state climbed to their highest level for July since Massachusetts REALTORS began tracking homes under agreement in 2004. The Massachusetts Association of REALTORS® (MAR) announced the results of its July Future Indicators Report, showing a 17 percent increase in accepted offers since same time last year. Median price of accepted contracts rose nearly three percent to $360,000 during this period. …
“It’s no surprise to see buyer demand continue its strong pace into the second half of the year,” said 2014 MAR President Peter Ruffini, regional vice president at Jack Conway & Co. “Combined with the fact that new listings to the market were up significantly in June, this should translate into good year-over-year sales numbers for July.”