Pending home sales grow in December despite Wall Street turbulence

Pending home sales throughout Massachusetts grew in December, but the sudden volatility seen in U.S. and international stocks near the end of 2018 may have had a negative effect on buyer and seller behaviors, according to a poll from the Massachusetts Association of Realtors.

The results of that survey were published along with MAR’s monthly pending home sales report Jan. 9. Last month, pending single-family home sales notched the 12th consecutive month of gains, growing 9.7 percent over the prior year. The median price on detached homes put under agreement fell by 1.3 percent over the same period, though, to $375,000. Pending condo sales and prices were down marginally in December. “One thing this high demand market has done over the past several years is it has expanded the ‘traditional’ home buying and selling seasons to more than just the spring and fall,” said 2019 MAR President Anne Meczywor, broker/associate at Roberts & Associates Realty, Inc., in Lenox.

“December was another example of buyers staying engaged in the process until they made offers that were accepted, regardless of the time of year.” However, other data included in the December pending home sales report found evidence of flagging confidence among Realtors and consumers throughout the Commonwealth. As …

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Article From: "Andrew Morrell"   Read full article

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