July Future Indicators Report: Pending Sales Climb to Record Levels

The Massachusetts Association of REALTORS® (MAR) announced the results of its Future Indicators Report today for the month of July. This report is a combination of our previous Pending Homes Sales and the REALTOR® Confidence Indexes data into one succinct monthly document. The report found that pending home sales across the state climbed to their highest level for July since Massachusetts REALTORS began tracking homes under agreement in 2004.

Here are the July 2014 Highlights:

Pending home sales:

  • Single-family pending home sales were up 17.2% compared to July 2013
  • Single-family median price up 2.9% from July 2013 (to $360,000)
  • Condo pending home sales were up 9.9% compared to July 2013
  • Condo median price up 2.6% compared to July 2013 (to  $320,000)
  •  17th straight month of single-family year-over-year increases.
  • The most homes put under agreement in July since MAR has been tracking this data.

REALTOR® Market and Price Confidence Indexes:

Confidence Index
July 2014
July 2013
% Change
 Market  63.54 71.09  -11%
 Price 70.69 72.27  -2.0%
  • The ninth straight month that the RMCI has gone down.
  • The sixth straight month that the RMCI has been over the 60-point mark.
  • The 17th 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: July Future Indicators Report: Pending Sales Climb to Record Levels