Today we issued our September 2011 housing numbers and for the 3rd straight month both single-family and condo sales were up over the same time last year. Single-family median prices were up from 2010, but down from August. Condominium median prices were also up from last year, but down from August. On a month-to-month basis, both single-family and condo sales were down from August, which is typical (see graphs below).
The Massachusetts Association of REALTORS(R) and REALTORS(R) across the country are concerned about the recent return to lower loan limits for FHA and GSEs (Fannie Mae and Freddie Mac) will have on the real estate market recovery. We are encouraging the US House of Representatives to restore the previous loan limits of 125% of the area median home price capped at $729,750 (the limits are now 115% of the median area sales price capped at $625,000).
Click the link to see the September 2011 Housing Release and listen to the monthly podcast with MAR President Laurie Cadigan.
Highlights from the release:
* Single-family home sales were up 9.96% compared to last year
* Single-family median prices were up 1.7 %
* Condo sales were up 8.87% compared to the same time last year
* The median price for a condo was up 5.43% compared to last year