Pending Sales Increases Continue from Busy Winter into the Spring Market

The spring market is off to a good start with pending sales up over six percent from this time last year. Pending sales have been up 48 of the last 49 months. Condominiums put under agreement also saw a hike over last year, with an increase of over 14 percent from 2016. The median price for both single-family homes and condos also saw a boost. Realtors® confidence both in the market and in home prices was positive in March.

March Pending Sales:

Single Family March2017 March2016 % Change
Sales 5,848 5,491 6.5%
Median Price $350,000 $328,375 6.6%
  • Pending sales have been up 48 of the last 49 months
Condominium March2017 March2016 % Change
Sales 2,414 2,107 14.6%
Median Price $335,000 $309,700 8.2%
  • Pending sales have been up or flat 18 of the last 19 months

Realtor® Market and Price Confidence Indexes:

Confidence Index March2017 March2016 %Change
Market 78.26 72.79 8%
Price 81.09 74.45 9%
  • The Realtor® Market Confidence Index has been up or flat for 24 straight months
  • The Realtor® Price Confidence Index is up over the 80 mark for the first time since 2015
  • 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 March 2017 Future Indicators Report.

Buyers Pushed Up the Pace on Pending Home Sales in August

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Buyers were not deterred by the hottest August on record in pushing up the number of accepted offers that were made as pending home sales rose again over 24 percent from last year. Condominium pending sales were also up 17 percent as prices for both property types continue to go up. The strong market was reflected in a high Realtor® Market Confidence Index, while Price Confidence was essentially flat.

August Pending Sales:

Single Family August 2016 August 2015 % Change
Sales 6,052 4,863 24.4%
Median Price $375,000 $365,000 2.7%
  • Pending sales have been up 41 of last 42 months
Condominium August 2016 August 2015 % Change
Sales 2,095 1,789 17.1%
Median Price $342,000 $335,450 2.0%
  • Pending sales have been up for 12 of last 13 months

pendingchartaug16

REALTOR® Market and Price Confidence Indexes:

Confidence Index August 2016 August 2015 % Change
Market 77.83 74.16 5.0%
Price 68.91 68.61 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 August 2016 Future Indicators Report release.

Pending Home Sales Continue to Rise as Winter Slowly Turns to Spring

pendingsales_gradientFBHomebuyers are not slowing down after a particularly active winter, with pending home sales rising over 50 percent from March of last year. Realtors® confidence in the market went up again, as it has every month for the past year. This month’s “Hot Topic” question finds that the majority of Realtors® are seeing busier-than-normal open houses, with 16 percent reporting this is the busiest first quarter they’ve seen.

March Pending Sales:

Single-Family March 2016 March 2015 %Change
Sales 6,431 4,177 54.0%
Median Price $329,900 $320,000 3.1%
  • Pending sales have been up 36 of the last 37 months
Condominium March 2016 March 2015 %Change
Sales 2,401 1,906 26.0%
Median Price $307,500 $307,000 0.2%
  • Pending sales have been up 36 of the last 37 monthsMarchPendingChart
Confidence Index March 2016 March 2015 %Change
Market 72.79 69.18 5.23%
Price 74.45 78.88 -5.62%
  • The RMCI was up for the 12th straight month
  • The RPCI was down for the fourth time in 12 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 March 2016 Future Indicators Report release.

An Unseasonably Warm December Kept Market Hot as Pending Home Sales Were Up Again

Dec_pending_blogtitleA record mild December allowed for increased buyer activity last month as pending home sales were up 34 percent from the same month last year.

Median prices increased slightly year over year, while condo prices remained flat. Year-end data showed that overall pending home sales were up in 2015 over last year despite the low number of homes for sale.

Realtors’® confidence in the market was positive again in December.

December Pending Sales:

Single-Family December 2015 December 2014 %Change
Sales 3,537 2,635 34.2%
Median Price $345,000 $330,000 4.5%
  • Pending sales have been up 33 of the last 34 months
Condominium December 2015 December 2014 %Change
Sales 1,217 936 30.0%
Median Price $319,000 $320,000 -0.0%
  • Pending sales have been up 33 of the last 34 months
    pendingDec15
Confidence Index December 2015 December 2014 %Change
Market 59.76 50.00 20%
Price 70.43 70.25 0%
  • The RMCI was up for the ninth straight month
  • The RPCI was up or flat for the fourth 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 December 2015 Future Indicators Report release.

Only Leaves Came Down in October as Pending Home Sales were up Again on Strong Buyer Activity

Oct Pending SalesNeither leaf peeping, leaf raking or any other fall activity kept buyers from viewing and making offers on homes in October as pending home sales were up 32 percent from the same month last year. REALTORS’® confidence in the market was high in October as the REALTOR® Market Confidence and Price Indexes were both up from October 2014.

October Pending Sales:

Single-Family October 2015 October 2014 %Change
Sales 5,782 4,375 32.2%
Median Price $335,000 $325,000 3.1%
  • Pending sales have been up 31 of the last 32 months
Condominium October 2015 October 2014 %Change
Sales 2,054 1,646 24.8%
Median Price $315,000 $300,000 5.0%
  • Pending sales have been up 31 of the last 32 months

PendingOct15

Confidence Index October 2015 October 2014 %Change
Market 65.53 53.62 22%
Price 68.79 65.11 6%
  • The RMCI was up for the seventh 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 October 2015 Future Indicators Report release.

 

 

Massachusetts Buyers Keeping Market Active in July by Pushing Pending Home Sales Up

The Massachusetts Association of REALTORS® (MAR) reported today that the summer market has remained strong as pending home sales went up over 37 percent from the same time last year. The REALTOR® Market Confidence Index was up 20 percent from July 2014. This month’s “Hot Topic” question finds that a third of REALTORS® who responded reported an increase in the use of seller contingencies because of the low number of homes for sale.

July Pending Sales:

Single-Family July 2015 July 2014 %Change
Sales 6,315 4,604 37.2%
Median Price $365,000 $360,000 1.4%
  • Pending sales have been up 28 of the last 29 months
Condominium July 2015 July 2014 %Change
Sales 2,221 1,810 22.7%
Median Price $338,000 $321,750 5.1%
  • Pending sales have been up 28 of the last 29 months

july2015pendingchart

Confidence Index July 2015 July 2014 %Change
Market 76.42 63.54 20%
Price 72.74 70.69 3%
  • The RMCI was up for the fourth straight month
  • The RPCI has been up three of the last four months
  • July is the eighth time the RPCI has been at 70 or above since August 2014
  • 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 release: Massachusetts Buyers Keeping Market Active in July by Pushing Pending Home Sales Up