Homes sales up, confidence down in May
Pending single-family and condominium sales in Central Massachusetts rose in May, according to the state’s Realtors’ group, while confidence among its members statewide fell.
The Massachusetts Association of Realtors (MAR) said the number of Central Massachusetts single-family homes placed under agreement – indicating they’ll likely be sold in the next two to three months – increased 2.6 percent from 871 in May 2013 to 894. Meanwhile, the number of local condominiums placed under agreement rose 22.3 percent, from 157 to 192.
The median May sales price for a single-family home in Central Massachusetts was up 1.1 percent to $237,500, while the median local condo price rose 6.7 percent to $202,750.
Statewide, single-family home sales rose 7.2 percent from 5,944 to 6,372, the highest ever May reading since MAR began tracking the data in 2004. Condominium sales statewide were up 3.7 percent from 2,353 to 2,440.
“With interest rates at their lowest point all year in May, buyer demand once again pushed pending home sales up,” MAR President Peter Ruffini said in a statement.
However, confidence among MAR members statewide fell for the seventh straight month from 83.08 in May 2013 to 67.73 last month. And the group’s price confidence index fell year over year from 81.95 to 76.58, marking the second consecutive month of decline.
“Buyer demand is strong based on pending sales, and hopefully that should start to push the Realtor market confidence index up in the coming months,” Ruffini said.
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