Mass. Home Sales Reach Another Plateau
The number of homes placed under sales agreements rose in May to its highest level since the state's Realtors association began tracking that data in 2004, the group said, indicating continued improvement in the real estate market.
Agreements for both single-family homes and condominiums rose substantially over May 2012, according to the group, the Massachusetts Association of Realtors (MAR). The number of single-family homes placed under agreement rose 84 percent, while the number of condos rose 63 percent.
Agreements are an indicator of sales activity two to three months out.
"May was a tipping point as increasing prices and interest rates pushed qualified buyers to make offers that sellers accepted in great numbers," said MAR President Kimberly Allard-Moccia.
(Image credit: freedigitalphotos.net)
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