Thursday, December 16, 2010

November 2010 Pending Home Sales Even with Last Year

12/7/2010

First time in six months that number of homes put under agreement has not gone down

WALTHAM, Mass. – December 7, 2010 – The Massachusetts Association of REALTORS® (MAR) reported today that the number of single-family homes put under agreement in November was unchanged compared to the same time last year. This is the first time in six months that monthly pending sales have not gone down. However, condominiums put under agreement were down compared to last year.

“It is a positive sign that pending sales in November were the same as last year and didn’t decrease,” said 2010 MAR President Kevin Sears, broker/co-owner of Sears Real Estate in Springfield. “It shows that there are buyers who are slowly getting back into the market and taking advantage of the conditions to purchase a home. Hopefully the economy will continue to improve, the snow holds off and doesn’t become a deterrent and pending sales continue to increase in December as well.”

The number of single-family homes put under agreement in November was essentially the same compared to the same time last year (3,387 homes in 2009 to 3,404 homes in 2010). This is the first time in six months that year-over-year pending sales have not gone down. On a month-to-month basis, single-family homes put under agreement were down 6.3 percent from 3,631 homes in October.

The number of condos put under agreement in November was down 9.0 percent compared to November 2009 (1,379 units in 2009 to 1,251 units in 2010). On a month-to-month basis, condos put under agreement were down 8.0 percent from 1,360 units in October.

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