July's pending home sales up 37 percent
Pending home sales were sharply up in July across the state compared with a year earlier, the Massachusetts Association of Realtors (MAR) reported Tuesday.
MAR’s Future Home Sales Indicators report said the number of single-family homes put under agreement last month — 6,315 — was up 37 percent over the 4,604 put under agreement in July 2014. It was the 28th month of year-over-year increases in the last 29 months. The median price of a home in the Bay State also ticked up more than a percent, from $360,000 in July 2014 to $365,000 in July 2015.
As for condominiums, pending sales were up 23 percent in July 2015 compared with July 2014. Median prices jumped 5 percent, from $321,750 in July 2014 to $338,000 last month.
MAR also reported that its Market Confidence Index was up 20 percent in July compared with a year earlier. It was the fourth straight month the index rose. The confidence stems from continuing buyer demand for a relatively low number of homes available, according to MAR President Corinne Fitzgerald.
WBJ Web Partners
Most Recent
Most Recent
0 Comments