Single Family Pending Home Sales are UP for Month of November
The number of single-family homes put under agreement in November went up again for the seventh straight month compared to the same time in 2010, according to the Massachusetts Association of Realtors (MAR). Condominium pending sales were also up from the same time last year.
“We are taking another step toward an eventual housing market recovery with pending sales going up in November,” said 2011 MAR President Laurie Cadigan, broker-owner of Barrett & Co. in Concord. “I don’t think it is a coincidence that as the unemployment rate here in Massachusetts ticks down, buyer confidence starts to increase.”
The number of single-family homes put under agreement in November rose 5.2 percent to 3,580 compared to 3,404 during the same time last year. This is the seventh straight month of year-over-year increases. On a month-to-month basis, single-family homes put under agreement were down 7.2 percent from 3,857 homes in October.
A total of 1,333 condos were put under agreement in November – a 7 percent increase compared to 1,251 during November 2010. On a month-to-month basis, condos put under agreement were up less than a half of one percent.