Trend continues as Massachusetts housing market up again in August

Buyers continued to react to increases in interest rates as home sales and prices closed up again in August. Condominium sales also strong as prices continue to go up. (see graphs below – click on them to enlarge)

REALTORS® are also concerned that rate increases through the National Flood Insurance Program, as a result of the Biggert-Waters Flood Insurance Reform Act, will have a potentially negative impact on the Massachusetts real estate market. Check out our recent blog post on Flood Insurance for more information.

Link to August 2013 news release

Highlights from the release:

  • Single-family home sales were UP 7.1% compared to last year (5,568 homes sold)
  • Single-family median prices were UP 8.8% ($345,000) (11th straight month)
  • Condo sales were UP 6.7% compared to the same time last year (2,269 units sold)
  • The median price for a condo was UP 10.3% ($320,500) compared to last year

August 2013 SF chart

 

 

August 2013 CC chart

What’s being said in the media: August REALTOR Market Confidence Index

Here are the articles and posts that resulted from the release of the August 2013 REALTOR® Market Confidence Index (RMCI) and the REALTOR® Price Confidence Index. We’ll continue to update this post as more articles come in.

Wednesday, September 18, 2013

MAR: Realtor Confidence Dips In August
Banker & Tradesman

New Survey Shows Local Housing Market Better Than a Year Ago
Lexington Patch

Mass. Realtor Confidence Slips in August
Lowell Sun

Mass. Realtor Confidence Dips in August
Worcester Business Journal

Mass. Realtors upbeat
Worcester Telegram & Gazette

 

Another good month for the Mass. housing market in July as sales and prices up

The annual push to be all moved in by the start of school combined with a tick up in interest rates in the spring resulted in both sales and median prices going up again in July. Condominium sales also saw increases in closed sales and prices. (see graphs below – click on them to enlarge).

Link to July 2013 news release

Highlights from the release:

  • Single-family home sales were UP 20.3% compared to last year (5,759 homes sold)
  • Most single-family home sold in one month since July 2004 (5,823 homes sold)
  • Single-family median prices were UP 7.7% ($350,000) (10th straight month)
  • Condo sales were UP 24% compared to the same time last year (2,297 units sold)
  • Most condos sold since August 2007 (2,323 units sold)
  • The median price for a condo was UP 4.8% ($314,500) compared to last year

July 2013 SF chart

 

 

July 2013 CC chart

 

 

 

We also wanted to let you know that because of the change that one the multiple listing services we receive data from made a change in how it categorizes “under agreements”, we are unable to provide inventory, days on market and months of supply data for July 2013. We are continuing to work with our analytics vendor to create a solution.

Heat and REALTOR(R) confidence up again in July

It wouldn’t be summer in Massachusetts without high temps in July and that essentially described REALTOR confidence in the real estate market as well. Both the July REALTOR Market Confidence Index (RMCI) and REALTOR Price Confidence Index (RPCI) were up again compared to the same time last year.

Here are the July 2013 Highlights:

  • This is the 6th straight time that the RMCI was over the 70-point mark.
  • The RPCI was over the 70-point mark for the 5th straight month
  • This is the 24th straight month the RMCI was up over the same time last year and the 18th straight month for RPCI.

Hot Topic:

The July “hot topic” question asked REALTORS if first-time homebuyer activity was being impacted by the lack of homes for sale and increasing prices.

Click link to read the full release: July Realtor(R) Market Confidence Index and Realtor(R) Price Confidence Index

Data points:

  • REALTOR® Market Confidence Index in July was 71.09 Up 23% from the same time last year
  • REALTOR® Market Confidence Index in July was down 7% from June 2013
  • REALTOR® Price Confidence Index in was 72.27. Up 11% from the same time last year.
  • REALTOR® Price Confidence Index in July was down 4% from June 2013.

What’s being said in the media: June 2013 closed home sales

Here are the articles and posts that resulted from the release of our June 2013 closed home sales report. We’ll continue to update this post as more articles come in.

Tuesday, June 23, 2013

Mass. home median prices on the rise
Associated Press (via Patriot Ledger)

Prices for Mass. single-family homes reach highest level since 2007, the Warren Group says
Boston.com

Bay State home sales up as prices set new record
Boston Business Journal

Higher prices, fewer homes in red-hot Hub real estate market
Boston Herald

Let the bidding begin: Lack of inventory leads to multiple offers on many North Shore properties
The Salem News

Waltham-based Realtor association: Single-family home sales up
Wicked Local Waltham

Bay State Home Prices Highest Since ’07
Worcester Business Journal