Pending home sales up
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Pending home sales in Massachusetts rose for the 21st consecutive month after a 20-percent jump in November for homes placed under agreement, according to the Massachusetts Association of Realtors (MAR).
MAR reported a 20.2 percent increase in accepted offers for single-family homes compared to November 2013, from 3,222 to to 3,872. Meanwhile, the median price of single-family homes put under agreement was up 4.4 percent compared to November 2013, rising from $316,000 to $330,000.
“Buyers took advantage of the lowest interest rates of the year and stable prices to push pending home sales up for another month in November,” MAR President Peter Ruffini said in a statement.
Condominium sales also saw their 21st straight month of year-over-year increases, with a 9.2 percent increase in pending sales – up to 1,453 units – and a 1.7 percent increase in median price to $304,000.
Realtor confidence in the market, which MAR measures on a scale of 1 to 100, was down 16 percent from the November 2013 number of 56.8 to 47.74. This marked the 13th straight month of decreases in the index, according to MAR. Confidence in prices fared better, with only a 4 percent drop from November 2013, to 67.54.
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