October 5, 2010
Pending Home Sales Plummet
By Matthew L. Brown
The number of single-family homes put under contract in September was down 19 percent compared to the same month a year ago, according to the Massachusetts Association of Realtors.
Pending sales of condos were down 27 percent as concerns about the economy, especially the weak job market, kept potential homebuyers out of the market, MAR said.
In all, 3,609 single-family homes were put under contract in September compared to 4,473 a year earlier. September was the fifth consecutive month of year-over-year pending sales declines.
Pending sales were down 12.3 percent compared to August.
The number of condos put under contract was 1,267 compared to 1,725.
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