Homebuyers took advantage of mild winter weather, moderating home prices and mortgages rates hitting a 12-month low (3.695%*) to push pending home sales up to their highest level in the month of February since MAR began recording this data in 2004. Unsurprisingly, Realtors® confidence in the market was positive again in February.
February Pending Sales:
| Single-Family | February 2016 | February 2015 | %Change |
| Sales | 4,531 | 2,578 | 75.8% |
| Median Price | $308,750 | $316,000 | -2.3% |
- Pending sales have been up 35 of the last 36 months
| Condominium | February 2016 | February 2015 | %Change |
| Sales | 1,809 | 1,118 | 61.8% |
| Median Price | $285,000 | $293,250 | -2.8% |
- Pending sales have been up 35 of the last 36 months
| Confidence Index | February 2016 | February 2015 | %Change |
| Market | 68.66 | 54.48 | 26% |
| Price | 75.70 | 76.35 | -1% |
- The RMCI was up for the 11th straight month
- The RPCI was down for the first time in 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 February 2016 Future Indicators Report release.