Massachusetts Home Buying Remains Strong through ‘Back-to-School’ Season in September

Pending SalesThe traditional “back-to-school” season didn’t slow buyer activity in September as pending home sales went up over 35 percent from the same month last year. REALTORS® confidence in the market was high in September as the REALTOR® Market Confidence and Price Indexes were both up from September 2014.

September Pending Sales:

Single-Family September 2015 September 2014 %Change
Sales 5,736 4,221 35.9%
Median Price $341,250 $325,000 5.0%
  • Pending sales have been up 30 of the last 31 months
Condominium September 2015 September 2014 %Change
Sales 1,927 1,650 16.8%
Median Price $305,000 $305,000 0.0%
  • Pending sales have been up 30 of the last 31 months

Sept2015pendingchart

Confidence Index September 2015 September 2014 %Change
Market 65.03 54.07 20%
Price 67.84 65.37 4%
  • The RMCI was up for the sixth straight month
  • The RPCI has been up four of the last six 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 release: Massachusetts Home Buying Remains Strong through ‘Back-to-School’ Season in September

February 2015 Future Indicators Report: Snow Couldn’t Keep Buyers from Making Offers on Homes

The Massachusetts Association of REALTORS® (MAR) reported today that homebuyers decided that record snow storms were not going to keep them from making offers on homes as pending home sales went up in February. Both REALTOR® Confidence Indexes remain in positive territory despite being down compared to the same time last year.

Here are the February 2015 highlights:

pendingchart2.15

  • Single-family pending home sales were UP +2.6% compared to February 2014
  • Single-family median price was UP +7.6% since February 2014 (to $317,500)
  • Condo pending home sales were down -6.1% compared to February 2014
  • Condo median price was UP +0.7% compared to February 2014 (to $287,000)
  •  Single family pending sales have been up 23 of the last 24 months

REALTOR® Market and Price Confidence Indexes:

Confidence Index
February 2015
February 2014
% Change
 Market 54.48 62.79 -13%
 Price 76.35 80.81 -6%
  • The RMCI has been down 14 of last 15 months
  • The 11th straight month that the RPCI has gone down
  • February is the third 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 condition.

Read the full release: A February Full of Snow Couldn’t Keep Buyers from Making Offers on Homes as Pending Sales Went Up

 

 

 

January 2015 Future Indicators Report: Blizzard Helps Push Pending Sales Down after 22 Straight Months of Increases

The Massachusetts Association of REALTORS® (MAR) reported today that the frigid weather, several snow storms and the end of the month blizzard pushed pending home sales down for the first time after 22 straight months according to the January Future Indicators Report. A strong close to 2014 help pull the January REALTOR® Market Confidence Index up for the first time in over a year.

Here are the January 2015 highlights:

Pendingchart1.15

  • Single-family pending home sales were down -16.3% compared to January 2014
  • Single-family median price was up since January 2014 ($320,000)
  • Condo pending home sales were down -4.0% compared to January 2014
  • Condo median price up was 20.0% compared to January 2014 (to $300,000)
  •  Single family pending sales down after 22 straight months of increases

REALTOR® Market and Price Confidence Indexes:

Confidence Index
January 2015
January 2014
% Change
 Market 63.34 59.80  +5.9%
 Price 73.32 76.96 -4.7%
  • First increase of the RMCI after 14th straight months of decreases
  • The 10th straight month that the RPCI has gone down.
  • January is the second time the RPCI has been at 70 or above since this past August.
  • 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.

Click link to read the full release: January Future Indicators Report: Blizzard Helps Push Pending Sales Down after 22 Straight Months of Increases

October Future Indicators Report: Pending Sales Growth Stays Strong

The Massachusetts Association of REALTORS® (MAR) reported today that pending home sales were up for the 20th straight month according to October Future Indicators Report.  This report is a combination of our previous Pending Homes Sales and the REALTOR® Confidence Indexes data into one succinct monthly document.

The report indicated there was a 23.5 percent increase in accepted offers compared to the same month the year before, while median price of homes put under agreement was up almost two percent compared to October 2013.

Here are the October 2014 highlights:

  • Single-family pending home sales were up 23.5% compared to October 2013
  • Single-family median price was up since October 2013 ($325,000)
  • Condo pending home sales were up 14.0% compared to October 2013
  • Condo median price up was 1.4% compared to October 2013 (to  $300,000)
  •  20th straight month of single-family year-over-year increases.

REALTOR® Market and Price Confidence Indexes:

Confidence Index
October 2014
October 2013
% Change
 Market 53.62 62.02  -14%
 Price 65.11 71.51  -9%
  • The twelfth straight month that the RMCI has gone down.
  • The seventh straight month that the RPCI has gone down.
  • 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.

Click link to read the full release: October Future Indicators Report: Another Month for Pending Sales Growth

June Future Indicators Report: Pending home sales up as Market Confidence Indexes go down

The Massachusetts Association of REALTORS® (MAR) announced the results of its Future Indicators Report today for the month of June. This report is a combination of our previous Pending Homes Sales and the REALTOR® Confidence Indexes data into one succinct monthly document. The June data found that pending home sales for single-family homes had its biggest June since MAR began tracking pending home sales in 2004. The REALTOR® Market and Price Confidence Indexes, however,

Here are the June 2014 Highlights:

Pending home sales:

  • Single-family pending home sales were up 19.8% compared to June 2013
  • Single-family median price up 4.0% from June 2013 (to $365,000)
  • Condo pending home sales were up 13.2% compared to June 2013
  • Condo median price up 3.1% compared to June 2013 (to  $330,000)
  •  16th straight month of single-family year-over-year increases.
  • The most homes put under agreement in June since MAR has been tracking this data.

REALTOR® Market and Price Confidence Indexes:

Confidence Index
June 2014
June 2013
% Change
 Market  63.89 76.40  -16%
 Price 74.60 75.00  -0.5%
  • The eighth straight month that the RMCI has gone down.
  • The fifth straight month that the RMCI has been over the 60-point mark.
  • The 16th straight month the RPCI was over the 70-point mark.
  • 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.

Click link to read the full release: June Future Indicators Report: Pending Sales Up as Price and Market Confidence Indexes Down

Confidence levels still positive despite year-over-year drop from April 2013

The REALTOR® Price Confidence Index (RPCI) was still high in April, but did experience its first year-over-year drop after 26 months of increases. Confidence in the market continued its trend of decreases as a lack of inventory pushed the REALTOR® Market Confidence Index (RMCI) down for its sixth straight month. While we’d all love to see confidence in the market and prices increase, the good news is that both indexes are historically high compared to the past.

Here are the April 2014 Highlights:

  • The REALTOR® Market Confidence Index (RMCI) went down compared to April 2013
  • This is the sixth straight monthly year-over-year decrease
  • The REALTOR® Price Confidence Index (RPCI) went down for the first time after 26 straight months compared to the same month the year before
  • The RPCI was over the 70-point mark for the 14th straight month

Hot Topic:

The April Hot Topic question asked REALTORS® to compare their clients’ ability to access financing compared to last year.

Click link to read the full release: April 2014 REALTOR® Market Confidence Index and REALTOR® Price Confidence Index

Data points:

  • REALTOR® Market Confidence Index in April was 66.89 Down 16% from the same time last year
  • REALTOR® Market Confidence Index in April was down 4% from March 2014
  • REALTOR® Price Confidence Index in April was 77.81 Down 5% from the same time last year
  • REALTOR® Price Confidence Index in April was down 2% from March 2014