The Massachusetts Association of REALTORS® (MAR) reported today that pending home sales were up for the 22nd straight month according to the December Future Indicators Report. Year-end data shows 2014 was also up over 2013 for total homes put under agreement and average median price. REALTOR® Confidence Indexes were down from the same month in 2013, but improved from November.

December Pending Sales:

Single-Family

December 2014

December 2013

%Change

Sales

3,096

2,406

+28.7%

Median Price

$333,000

$319,900

+4.1%

  • 22nd straight month of single-family year-over-year increases.

Condominium

December 2014

December 2013

%Change

Sales

1,091

910

+19.9%

Median Price

$318,500

$306,500

+3.9%

  • 22nd straight month of condominium year-over-year increases.

 

Year-End Pending Sales:

Single-Family

2014

2013

%Change

Sales

57,590

51,790

+11.2%

Avg. Median Price

$331,800

$318,096

+4.3%

 

Condominium

2014

2013

%Change

Sales

22,305

21,017

6%

Avg. Median Price

$309,292

$293,903

5.2%

“All year buyers have been taking advantage of interest rates that seem to continually go down and down to push pending sales up and up,” said 2015 MAR President Corinne Fitzgerald, broker-owner of FITZGERALD Real Estate in Greenfield. “Just like 2014, the need for consistent inventory gains across the state are needed to help push sales up in the New Year.”

Confidence Index

December 2014

December 2013

%Change

Market

50.00

52.63

-5.0%

Price

70.25

75.39

-6.83%

  • The 14th straight month that the RMCI has gone down.
  • The RMCI is back to the 50-point mark after dropping below in November
  • The ninth straight month that the RPCI has gone down.
  • December is the first time the RPCI has been at 70 or above since this past August.
  • 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.

Year-End

Confidence Index

2014

2013

%Change

Market

60.12

68.78

-13%

Price

73.42

74.67

-2%

 

“REALTORS® continue to see strong activity, but low inventory continues to temper their confidence in the market,” said Fitzgerald. “While both Indexes were down from December of last year, it is good to see they both improved from this past November.”

Monthly ‘Hot Topic’ Question:
The December “Hot Topic” question asked REALTORS® what trend do they think their buyer and seller clients will be talking/asking about the most in 2015. Of those who answered the open-ended question, responses about interest rates, inventory and prices were the top three mentioned respectively. Other common responses included:

  • Downsizing
  • Green homes; and
  • Impact of casinos on the market

 

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