Pending Home Sales Down 10% In August
Pending single-family home sales were down 10 percent in August compared to the same month a year ago, according to the Massachusetts Association of Realtors.
Pending condo sales were down 19 percent from last year.
August was the fourth consecutive month that year-over-year pending single-family homes sales have decreased. During the month, 4,117 homes were put under agreement compared to 4,570.
The number of single-family homes put under agreement was an increase of 1.7 percent from July's total of 4,050. That's the first month-to-month increase since April, the last month of the $8,000 federal tax credit for homebuyers.
Just 1,466 condos were put under agreement compared to 1,770 a year ago. Pending condo sales were also down 2.1 percent month-to-month.
The MAR considers a sale "pending" when buyers and sellers have signed a purchase and sale agreement.
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