The Massachusetts Association of REALTORS® (MAR) announced the results of its first Future Indicators Report today for the month of May. This report is a combination of our previous Pending Homes Sales and the REALTOR® Confidence Indexes data into one succinct monthly document. Look out for the new Future Indicators Report the second Tuesday of every month.
Here are the May 2014 Highlights:
Pending home sales:
- Single-family pending home sales were up 7.2% compared to May 2013
- Single-family median price up 7.4% from May 2013 (to $349,000)
- Condo pending home sales were up 3.7% compared to May 2013
- Condo median price up 8.6% compared to May 2013 (to $315,000)
- 15th straight month of single-family year-over-year increases.
- The most homes put under agreement in May since MAR has been tracking this data.
REALTOR® Market and Price Confidence Indexes:
- The seventh straight month that the RMCI has gone down.
- The fourth straight month that the RMCI has been over the 60-point mark.
- The 15th 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.
Monthly ‘Hot Topic’ Question:
In response to the monthly “Hot Topic” question, 55 percent of REALTORS® who responded, reported that continued low inventory had increased buyer attendance at open houses.
Click link to read the full release: May Future Indicators Report: Pending Sales Up as Price and Market Confidence Index Down