The South Coast Real Estate Round-Up

MAR (Massachusetts Association of Realtors) Releases August 2019 Pending Sales Data Report

Pending Single Family and Condominium Home Sales were UP in August of 2019 when compared to August 2018.  

This new data marks the 12th straight month of year over year increases for single family homes adding more pressure to an already tight inventory market. Single family prices also saw a 2.8% year over year increase.

The condominium data showed similar gains with pending sales either flat or up 9 of the last 12 months and a year over year price increase of 3.1%.

These continues gains are bringing home affordability down causing many potential buyers to continue to be only potential buyers.   

Pending home sales are considered a leading indicator of future existing home sales and is generally considered a more accurate measure of the strength of the real estate market. This is believed because a majority of the labor involved in selling a home are performed that lead up to signing an agreement for the sale of a house. The mortgage process represents the end of the sales cycle but is a technicality and can take 4 - 8 weeks on average. Generally pending home sales is an accurate measure of existing home sales one to two months in the future.

Check out the full Press Release here.

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Posted by Christopher Terry on September 12th, 2019 4:07 PM

 
NAR Chief Economist Lawrence Yun
 
 NAR, the National Association of Realtors┬«, has released its pending home sales for August 2018. The pending home sales index is a leading indicator of housing activity. It measures housing contract activity, and is based on signed real estate agreements for existing single family homes condominiums and co-ops. Because a home goes under agreement a month or more before it closes the pending home sales index generally leads existing home sales by a month or more. 

CLICK HERE ??for NAR's press release.

What is interesting is that for our area Yun noted that year-over-year increases in active listings from data at realtor.com shows the Providence-Warwick, RI-Mass is one of 5 areas across the county that saw some of the largest increase in active listings compared to a year ago. Simply put, if you are in the market to become a homeowner you have had more options this year compared to last. 
 
Free Home Buyer Consultation 
With more inventory and opportunities getting better for home buyers is now the right time to get into the market? The idea of becoming a homeowner is exciting and can be a giant undertaking. If you are like most people, you'll probably want some advice along the way. Not everyone with a real estate license is equally equipped to help you find the right home, at the right price for you and your family. Our dedication to you and your understanding of the home ownership process sets us apart. We offer a FREE, No Obligation Home Buyer Consultation, during which you will discover every step of the process, different financing options and home buying programs that may be available to you, a real time technology program that puts the latest real estate listing updates in the palm of your hand and much more! 
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Posted by Christopher Terry on September 28th, 2018 2:03 PM

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