Pending Home Sales Continue to Rise as Winter Slowly Turns to Spring

pendingsales_gradientFBHomebuyers are not slowing down after a particularly active winter, with pending home sales rising over 50 percent from March of last year. Realtors® confidence in the market went up again, as it has every month for the past year. This month’s “Hot Topic” question finds that the majority of Realtors® are seeing busier-than-normal open houses, with 16 percent reporting this is the busiest first quarter they’ve seen.

March Pending Sales:

Single-Family March 2016 March 2015 %Change
Sales 6,431 4,177 54.0%
Median Price $329,900 $320,000 3.1%
  • Pending sales have been up 36 of the last 37 months
Condominium March 2016 March 2015 %Change
Sales 2,401 1,906 26.0%
Median Price $307,500 $307,000 0.2%
  • Pending sales have been up 36 of the last 37 monthsMarchPendingChart
Confidence Index March 2016 March 2015 %Change
Market 72.79 69.18 5.23%
Price 74.45 78.88 -5.62%
  • The RMCI was up for the 12th straight month
  • The RPCI was down for the fourth time in 12 months
  • Measured on a 100-point scale, a score of 50 is the midpoint between a “strong” (100 points) and a “weak” (0 points) market condition

Read the full March 2016 Future Indicators Report release.

Active Spring Market Pushed Massachusetts Closed Home Sales Up in June

The Massachusetts Association of REALTORS® (MAR) reported today that ongoing buyer activity in the spring pushed single-family home sales up in June by nine percent compared to the same time last year. The median price of single family homes was also up for the eighth time in nine months. New listings added to the market were up almost 12 percent over last year. Condominium closed sales were up, but median prices were down slightly.

June 2015 Closed Sales Release

Video Podcast with MAR President Corinne Fitzgerald

Highlights from the release:

  • June single-family home sales up 9.1% over last year. (6,208 sales in 2015 from 5,692 sales in June 2014)
  • June single-family median prices went up year-over-year (to $375,000 in 2015 from $364,900 in June 2014)
  • June condo sales up 10.5% and median prices down -0.6% ($330,000)
  • Inventory in June down -17.2% to 21,621 and condominiums available down -23.8% to 5,028
  • SF listings added to the market in June up 11.6% over last year. (9,417 from 8,439 in 2014)
  • Condo listings added to the market UP 11.3% over last year. (3,004 from 2,98 in 2014)

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Massachusetts Monthly Housing Top Ten: February 2015

Man Is Removal Snow
Introducing a new, monthly list of top year-over-year increases in closed sales and median sales in towns statewide. Check out February’s numbers below:

 Closed Sales Percent Increase
Median Sales Price Growth Median Price Percent Increase
 1. Wayland +400% 1. Needham $1,300,000 + 61.5%
 2. Westport +267% 2. Seekonk $348,500 + 47.7%
 3. Weston +250% 3. Northampton $341,250 + 46.5%
 4. Bourne +233% 4. Newton $1,300,000 + 42.9%
 5. Peabody +133% 5. Agawam $224,000 + 40.1%
 6. Easthampton +120% 6. Attleboro $285,000 + 28.8%
 7. Melrose (tie) +100% 7. East Longmeadow $266,250 + 28.3%
 7. Randolph (tie) +100% 8. Revere $300,000 + 27.7%
 8. Belchertown 83% 9. Lowell $245,044 + 26.6%
 9. Reading +75% 10. New Bedford $187,500 +26.1%

*A minimum of ten homes must have been sold in each town during February 2015 to make this list.

Fitch: 6 predictions for housing in 2015

future money crystal ball

 

From Housingwire.com:

“Analysts from Fitch Ratings weighed in with their predictions for 2015 in their Global Housing and Mortgage Outlook, and there’s good news and bad news.

1. Home price growth will slow

2. Interest rates WILL rise in 2015, but it won’t be as bad as you think

3. Rising rates will cause a decline in mortgage volume

4. Delinquency rates will improve

5. Prepayments will slow down

6. The rate of homeownership will remain low, permanently

Read the rest of the article on HousingWire here, and let us know what you think. Do you agree or disagree? Is this good or bad news for Massachusetts REALTORS?