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

June Future Indicators Report: Pending home sales up as Market Confidence Indexes go down

The Massachusetts Association of REALTORS® (MAR) announced the results of its Future Indicators Report today for the month of June. This report is a combination of our previous Pending Homes Sales and the REALTOR® Confidence Indexes data into one succinct monthly document. The June data found that pending home sales for single-family homes had its biggest June since MAR began tracking pending home sales in 2004. The REALTOR® Market and Price Confidence Indexes, however,

Here are the June 2014 Highlights:

Pending home sales:

  • Single-family pending home sales were up 19.8% compared to June 2013
  • Single-family median price up 4.0% from June 2013 (to $365,000)
  • Condo pending home sales were up 13.2% compared to June 2013
  • Condo median price up 3.1% compared to June 2013 (to  $330,000)
  •  16th straight month of single-family year-over-year increases.
  • The most homes put under agreement in June since MAR has been tracking this data.

REALTOR® Market and Price Confidence Indexes:

Confidence Index
June 2014
June 2013
% Change
 Market  63.89 76.40  -16%
 Price 74.60 75.00  -0.5%
  • The eighth straight month that the RMCI has gone down.
  • The fifth straight month that the RMCI has been over the 60-point mark.
  • The 16th 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: June Future Indicators Report: Pending Sales Up as Price and Market Confidence Indexes Down

MAR Debuts Future Indicators Report

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:

Confidence Index
May 2014
May 2013
% Change
 Market  67.73  83.08  -19%
 Price  76.58  81.95  -7.0%
  • 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

2014 started off strong with pending home sales up again

While interest rates may start to head up in 2014, in January at least they headed down and that helped keep buyer demand high, despite the lack of homes for sale. With median prices up and equity returning to more and more homes, the opportunity for homeowners who’ve wanted to sell, but have been holding off to put their home on the market is getting better each day. Like we’ve said for many months, sellers have to make the decision to sell.

Read January 2014 pending sales release

Here are the highlights:

January 2014:

  • Single-family pending home sales were up 1.4% compared to January 2013
  • Single-family month-to-month pending home sales were up 12.2% from December 2013
  • Single-family median price up 14.3% from January 2013 (to $320,000)
  • Condo pending home sales were up 9.8% compared to January 2013
  • Condo pending month-to-month home sales were up 36% from December 2013
  • Condo median price up 20% compared to January 2013 (to $300,000)

December closes out a strong year for pending home sales in Massachusetts

The one theme that carried through all 12 months of 2013 was “not enough homes for sale.” Yet despite that, buyers continued to make offers that sellers accepted in December and through all of 2013. The big question that remains for 2014 is whether homeowners, who are interested in selling, will finally put their homes on the market. As prices continue to push upward, we are in danger of the market slowing down if there are not enough homes to buy.

Read: December 2013 Pending Home Sales Release

Here are the highlights:

December 2013:

  • Single-family pending home sales were up 11.4% compared to December 2012
  • Single-family month-to-month pending home sales were down 26.9% from November 2013 (which is typical)
  • Single-family median price up 6.3% from December 2012 (to $320,000)
  • Condo pending home sales were up12% compared to December 2012
  • Condo pending month-to-month home sales were down 32% from November 2013
  • Condo median price up 8% compared to December 2012 (to $305,000)

Year-End 2013:

  • Pending single-family home sales up 11.3% compared to 2012 (52,382 homes in 2013 from 47,082 homes in 2012)
  • Pending condo sales up 15% compared to 2012 (21,205 condos in 2013 from 18,437 homes in 2012)

May pending home sales hits all-time high: first time over 9,000 homes put under agreement in one month

Please read our statement on the pending sales data that was released on June 12, 2013

——————————————————————————————————————————————————————————
May was a big month for homes going under agreement. In fact, it was the biggest month MAR has ever recorded for both single-family sales and condominiums. Rising home prices and rising interest rates pushed buyers and sellers to come together unlike any month before. Inventory is still very low, but rising prices should encourage more homeowners, who are thinking about selling, to put their homes on the market.

Link to May 2013 Pending Sales News Release

Here are the highlights:

  • Single-family pending home sales were up 83.6% compared to May 2012 – biggest increase since MAR has been tracking the data
  • 9,075 is the most homes ever put under agreement in any one month
  • Condo pending home sales were up 63.2% compared to May 2012
  • 3,469 is the most condos put under agreement in any single month

 

May 2013 Pending
(click on graph to enlarge)