Massachusetts Pending Homes Sales Rise
The Massachusetts Association of Realtors reported that the number of single-family homes put under agreement in December was up 5.3 percent compared to the same time last year. This is the first significant increase in year-over-year pending sales in seven months. The number of homes put under agreement in 2010 was down only 2.5 percent compared to 2009.
2011 MAR President Laurie Cadigan, broker/owner of Barrett & Company Concord, MA said:
With the different twists and turns the market took in 2010, it was encouraging to close out the year with an increase in the number of homes put under agreement. We can most likely attribute some of the increase in pending sales to the slight rise in consumer confidence and recent uptick in interest rates as buyers who were ready, but on the sidelines, made the decision to enter the market.
The number of single-family homes put under agreement in December was up 5.3 percent compared to the same time last year (2,743 homes in 2009 to 2,888 homes in 2010). On a month-to-month basis, single-family homes put under agreement were down 15.2 percent from 3,404 homes in November.
The number of condos put under agreement in December was down 16 percent compared to December 2009 (1,249 units in 2009 to 1,046 units in 2010). On a month-to-month basis, condos put under agreement were down 16.4 percent from 1,251 units in November.
Year-End Pending Sales:
There were a total of 47,384 single-family homes put under agreement in 2010, which was down 2.5 percent compared to 48,584 single-family homes put under agreement in 2009. The number of condominiums put under agreement in 2010 was down 6.7% compared to 2009 (21,929 units in 2009 compared to 20,460 units in 2010).
Hi, I'm Jake...and that's my dog! By day I'm founder and Chief Geek at MyUntangled Media, LLC and Executive Director of Business Development at Barrett & Company Real Estate . By night I am part struggling musician, frustrated writer, wanna-be chef and obsessed dog owner. I started this site mainly to learn WordPress, work on my design and writing skills, and showcase some folks with all kinds of talents and great stuff to say. (Read the long version if you dare) and please introduce yourself over on my Google+ Profile!
