Pending Home Sales Jump, Now is the time to buy!
Home buyers listen up! According to the Boston Herald “Single-family homes put under agreement last month were up more than 44 percent compared to the same time last year, marking the 10th straight month of year-over-year increases, according to the Massachusetts Association of Realtors.” What does this mean? It could mean that NOW is the best time to buy a home.
The south of Boston housing market has seen a surprising spike in activity over the past 60 days. While confidence is slightly up, home prices remain level. If confidence continues to go up in the housing market, inevitably, so will home sale prices.
Other factors that may be contributing to this spike in activity? Interest rates remaining low and the weather.
“Not having a true winter, along with our historically-low interest rates and relatively affordable prices, has been responsible for significant increase in activity and Realtors across the state are feeling it,” Massachusetts Association of Realtors president Trisha McCarthy said in a statement. “Realtors who responded to the survey feel more confident about prices stabilizing as the combination of activity and current inventory levels are increasing demand.” (Boston Globe)
Another factor? Analysis by real estate data and analytics firm Radar Logic Inc points to the seller’s willingness to negotiate sale prices. This is good news for everyone!
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