Pending Home Sales Up Again Over 2011
Pending home sales in Massachusetts registered their 17th straight month of year-over-year increases in September, providing more evidence of a healthier residential real estate market, according to the state's Realtors association.
The Massachusetts Association of Realtors (MAR) said the number of single-family homes and condominiums placed under agreement last month rose 26 and 48 percent, respectively, over September 2011, marking the ninth straight month of year-over-year increases in double-digit percentages. Pending home sales are a leading indicator of actual housing sales in the Bay State for the following two to three months, MAR said.
However, on a month-to-month basis, pending sales of single-family homes fell 13 percent; nearly 11 percent for condominiums.
In spite of the month-to-month decreases, "September's strong activity increases the likelihood that there will be several more months of positive sales growth heading into" 2013, said MAR President Trisha McCarthy.
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