Rising Pending Home Sales in September Could Signify a Busy Fall Real Estate Market

Single-family pending home sales jumped over four percent this month from September of last year, with prices rising close to five percent. Pending condominium sales were also up, rising more than three percent over last year, while prices increased slightly. Realtors® confidence in the market and in home prices were both up again in September. This month’s “Hot Topic” question asks Realtors® how they would describe the appraisal process in the last six months.

September Pending Sales:

Single Family September 2017 September 2016 % Change
Sales 5,288 5,056 4.6%
Median Price $395,876 $378,750 4.5%
  • Pending sales up for 11 out of the last 12 months
Condominium September 2017 September 2016 % Change
Sales 1,918 1,855 3.4%
Median Price $349,000 $345,000 1.2%
  • Pending sales up for 10 out of the last 12 months

Realtor® Market and Price Confidence Indexes:

Confidence Index September 2017 September 2016 %Change
Market 76.74 73.33 4.64%
Price 68.48 67.15 1.98%
  • The Realtor® Market Confidence Index up for the 28th time in 29 months
  • The Realtor® Price Confidence Index up for the eighth time in nine 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 more in the September 2017 Future Indicators Report.

Continuing Buyer Demand Pushed Pending Sales Up in May

Single-family pending home sales were up over 11 percent in May from last year. Pending condominium sales were also up more than 12 percent this month. The median price for both single-family homes and condos continued to rise. Realtors® confidence both in the market and in home prices was positive in May, with both indexes making slight gains over 2016.

May Pending Sales:

Single Family May 2017 May 2016 % Change
Sales 7,280 6,530 11.5%
Median Price $385,000 $352,700 9.2%
  • Pending sales have been up 50 of the last 51 months
Condominium May 2017 May 2016 % Change
Sales 2,736 2,432 12.5%
Median Price $370,000 $343,000 7.9%
  • Pending sales have been up or flat 19 of the last 21 months

Realtor® Market and Price Confidence Indexes:

Confidence Index May 2017 May 2016 %Change
Market 83.54 81.25 3%
Price 73.94 72.46 2
  • The Realtor® Market Confidence Index has been up or flat for 26 straight months
  • The Realtor® Price Confidence Index has been up for 5 straight 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

 

Buyer Demand Keeps Pending Sales Strong in January

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Ongoing buyer demand pushed pending home sales up in January more than 10 percent compared to the same time last year. Realtors® confidence both in the market and in home prices was positive in January.

January Pending Sales:

Single Family January 2017 January 2016 % Change
Sales 3,600 3,254 10.6%
Median Price $354,000 $329,700 7.4%
  • Pending sales have been up 46 of the last 47 months
Condominium January 2017 January 2016 % Change
Sales 1,524 1,278 19.2%
Median Price $330,000 $310,000 6.5%
  • Pending sales have been up 16 of the last 17 months

Realtor® Market and Price Confidence Indexes:

Confidence Index January 2017 January 2016 %Change
Market 69.63 66.98 4%
Price 75.19 73.32 2%
  • The Realtor® Market Confidence Index was up for the 10th straight month
  • 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 January 2017 Future Indicators Report.

Massachusetts Pending Home Sales and Median Prices Up Across the Board in October

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The number of homes put under agreement in October were up 15 percent from last year. Condominium pending sales were also up almost nine percent as prices for both property types continue to go up. The strong market was reflected in high Realtor® Market Confidence Index, while the Price Confidence Index remained essentially the same over last year.

October Pending Sales:

Single Family October 2016 October 2015 % Change
Sales 5,680 4,936 15.1%
Median Price $355,778 $335,000 6.2%
  • Pending sales have been up 43 of last 44 months
Condominium October 2016 October 2015 % Change
Sales 1,984 1,825 8.7%
Median Price $327,000 $318,000 2.8%
  • Pending sales have been up for 13 of last 14 months

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Realtor® Market and Price Confidence Indexes:

Confidence Index October 2016 October 2015 % Change
Market 70.18 65.53 5.0%
Price 68.86 68.79 0.4%
  • The Realtor® Market Confidence Index was up for the 18th straight month
  • The Realtor® Price Confidence Index was down or essentially flat for the eighth time in 13 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 October 2016 Future Indicators Report.

Mild Weather, Low Mortgage Rates and Moderating Home Prices Lead to Record Number of Pending Sales for a February

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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

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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.

What’s being said in the media: January 2016 Future Indicators Report

what's being said in the media 2016These articles and posts resulted in the release of our January 2016 Future Indicators Release. We’ll continue to update this post as more articles come in.

Tuesday, February 9, 2016

Mild Weather and Strong Buyer Demand Result in Robust Start to the Year in Pending Home Sales
Cape & Plymouth Business Magazine

Mild winter gives 2016 housing market a jump-start
Boston.com

Finally, take a look at this Boston.com article using data from the 2015 Profile of Home Buyers and Sellers Massachusetts report from the National Association of Realtors®.

How first-time homebuyers are managing in Massachusetts
Boston.com