Confidence in Market Very High as Pending Home Sales Hits Another Record for the Month of April

pendingsales_gradientFBHome sales momentum from the winter has continued into the spring, as April pending home sales increased just over 30 percent from last year. Realtors® confidence in the market increased to the highest level since May 2013 after a year of steady increases.

April Pending Sales:

Single Family April 2016 April 2015 % Change
Sales 7,139 5,477 30.3%
Median Price $350,688 $325,000 7.9%
  • Pending sales have been up 37 of last 38 months
  • Most pending sales in the month of April since 2004

 

Condominium April 2016 April 2015 % Change
Sales 2,782 2,448 13.6%
Median Price $329,628 $305,000 8.1%
  • Pending sales have been up 37 of the last 38 months

 

REALTOR® Market and Price Confidence Indexes:

Confidence Index April 2016 April 2015 %Change
Market 82.88 82.28 0.73%
Price 76.71 80.66 -4.89%
  • The Realtor® Market Confidence Index was up for the 13th straight month
  • The Realtor® Price Confidence Index was down for the fifth 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 April 2016 Future Indicators Report release.

An Unseasonably Warm December Kept Market Hot as Pending Home Sales Were Up Again

Dec_pending_blogtitleA record mild December allowed for increased buyer activity last month as pending home sales were up 34 percent from the same month last year.

Median prices increased slightly year over year, while condo prices remained flat. Year-end data showed that overall pending home sales were up in 2015 over last year despite the low number of homes for sale.

Realtors’® confidence in the market was positive again in December.

December Pending Sales:

Single-Family December 2015 December 2014 %Change
Sales 3,537 2,635 34.2%
Median Price $345,000 $330,000 4.5%
  • Pending sales have been up 33 of the last 34 months
Condominium December 2015 December 2014 %Change
Sales 1,217 936 30.0%
Median Price $319,000 $320,000 -0.0%
  • Pending sales have been up 33 of the last 34 months
    pendingDec15
Confidence Index December 2015 December 2014 %Change
Market 59.76 50.00 20%
Price 70.43 70.25 0%
  • The RMCI was up for the ninth straight month
  • The RPCI was up or flat for the fourth straight month
  • 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 December 2015 Future Indicators Report release.

March 2015 Future Indicators Report: Buyers Were Thinking Spring as Pending Home Sales Went Up

The Massachusetts Association of REALTORS® (MAR) reported today that spring market started to gain traction in March as pending home sales went up over 14 percent from the same time last year according to the March Future Indicators Report. While both REALTOR® Confidence Indexes are at 12 month highs, they were still down slightly from March 2014. This month’s “Hot Topic” question shows that a significant percent of REALTOR® clients discussed condominium living after the record winter.

Here are the March 2015 highlights:

Pendingchart3.15

  • Single-family pending home sales were up 14.4% compared to March 2014
  • Single-family median price was up since March 2014 (to $320,000)
  • Condo pending home sales were up 12.1% compared to March 2014
  • Condo median price was up 3.0% compared to March 2014 (to $309,108)
  • Pending sales have been up 24 of the last 25 months

REALTOR® Market and Price Confidence Indexes:

Confidence Index
March 2015
March 2014
% Change
 Market 69.18 69.50  -0.46%
 Price 78.88 79.69 +1.21%
  •  The RMCI has been down 15 of last 16 months
  • The 12th straight month that the RPCI has gone down
  • March 2015 is the highest the RMCI has been since March 2014
  • March is the fourth time the RPCI has been at 70 or above since August 2014
  • Measured on a 100-point scale, a score of 50 is the midpoint between a “strong” (100 points) and a “weak” (0 points) market

Click link to read the full release: Buyers Were Thinking Spring as Pending Home Sales Went Up in March