August 2014 New England Housing Report
Natick, MA – September 15, 2014
– The New England housing market experienced a year-over-year (YOY) sales decrease of -8.8% and a -6.0% decrease from July 2014, according to The RE/MAX of New England August Monthly Housing Report.
Pending sales continued to trend upward at 9.6% over July 2014, despite national applications for home loans falling to the lowest point since December 2000, according to the Mortgage Bankers Association.
Across the region, New Hampshire was the only state to show a month-over-month increase in sales, up 0.4%.
“We’re seeing the culmination of the end of a busy spring/summer season combined with rising mortgage rates,” said Dan Breault, EVP/Regional Director of RE/MAX of New England. “The good news is that pending sales are up 30% year-over-year and that bodes well as we move into the fall.”
To read the entire report*, click here.
*Maine data will be released pending information provided by Maine Association of REALTORS®.