August Future Indicators Report: Pending Sales Continued to Climb

The Massachusetts Association of REALTORS® (MAR) announced the results of its Future Indicators Report today for the month of August. This report is a combination of our previous Pending Homes Sales and the REALTOR® Confidence Indexes data into one succinct monthly document.

Pending home sales climbed to their highest levels for any August since MAR began tracking homes under agreement in 2004. According to the August Future Indicators Report, there was a 15.7 percent increase in accepted offers compared to the same month the year before. Median price of homes put under agreement also went up, increasing 2.2 percent compared to August 2013.

Here are the August 2014 Highlights:

Pending home sales:

  • Single-family pending home sales were up 15.7% compared to August 2013
  • Single-family median price up 2.2% from August 2013 (to $352,000)
  • Condo pending home sales were up 10.7% compared to August 2013
  • Condo median price up 1.4% compared to August 2013 (to  $325,000)
  •  18th straight month of single-family year-over-year increases.
  • The most homes put under agreement in August since MAR has been tracking this data.

REALTOR® Market and Price Confidence Indexes:

Confidence Index
August 2014
August 2013
% Change
 Market  61.15 69.26  -12%
 Price 70.00 73.57  -5.0%
  • The tenth straight month that the RMCI has gone down.
  • The seventh straight month that the RMCI has been over the 60-point mark.
  • The 18th 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: August Future Indicators Report: Pending Sales Continued to Climb