Home Loans and Support

June Pending Home Sales Down for Second Straight Month

WALTHAM, Mass. – July 7, 2010 – (LoanSafe.org) – The Massachusetts Association of REALTORS® (MAR) reported today that the number of single-family homes put under agreement in June were down 16.0 percent over the same time last year, while condominiums were down 21.0 percent.  This is the second month in a row that the number of both single-family homes and condominiums put under agreement has decreased compared to the year before.

“June is following the same script as May with pending sales down after the expiration of the tax credit,” said 2010 MAR President Kevin Sears, broker/co-owner of Sears Real Estate in Springfield.  “While we can anticipate the number of closed sales in June going up, the summer months will give us a better understanding of where the market is and whether affordable prices and interest rates below the five-percent range will keep the market moving along.”

The number of single-family homes put under agreement in June was down 16.0 percent compared to the same time last year (5,153 homes in 2009 to 4,354 homes in 2010).  On a month-to-month basis, single-family homes put under agreement were down 6.6 percent from 4,663 homes in May.

The number of condos put under agreement in June was down 21.0 percent compared to June 2009 (2,127 units in 2009 to 1,689 units in 2010).  On a month-to-month basis, condos put under agreement were down 10.8 percent from 1,894 units in May.

About Pending Sales:
The tracking of signed purchase and sales agreements (also called “pending sales”) provide reliable information about where the real estate market is heading in coming months.

A pending sale or a sale “under agreement” is when the buyer and seller agree on the terms of the sale of a home and have a signed purchase and sale agreement, but have yet to close and be recorded as such.  MAR is the only organization which compiles this statewide information from Multiple Listing Services each month.

About the Massachusetts Association of REALTORS®:
Organized in 1924, the Massachusetts Association of REALTORS® is a professional trade organization with more than 20,000 members.  The term REALTOR® is registered as the exclusive designation of members of the National Association of REALTORS® who subscribe to a strict code of ethics and enjoy continuing education programs.

###

Editors and reporters: Please note that the term Realtor is properly spelled with an initial capital “R”, per the Associated Press Stylebook.

Source: Massachusetts Association of REALTORS®


About Moe Bedard

My name is Maurice Bedard, but most people call me Moe. I am the founder of America's #1 Mortgage Forum, LoanSafe.org, and also a website design firm called We Create Web Designs. My online work has been featured in the New York Times, LA Times, Fox Business, and many other media publications. I currently live in Carlsbad, California with my beautiful wife and children.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Get free unbiased help with your tough questions. Start your own threads and post replies with over 60,000 people just like you.

LoanSafe Forums

TESTIMONIALS

"Hello Moe, I just wanted to tell you, your website has saved my life (literally), I stumbled on your site in the middle of losing my home, I was able to network with people going through the same thing as I am. I didn't feel alone anymore, I have tried to give back and counsel those that haven't walked in my shoes yet. We hear so much about what is wrong with America, I just wanted you to know, you are whats "right" with America."

Nina Mitchell
Loansafe & MoeSeo Inc. © 2014 | LoanSafe.org is not a bank, lender, mortgage broker, law firm or affiliated with the US Government. Privacy Policy