Pending home sales for single-family homes and condominiums were up in December, marking the 20th consecutive month of year-over-year increases, according to the Massachusetts Association of Realtors (MAR).
The number of single-family homes put under agreement in December was up 15.6 percent compared with the same time last year – 3,062 homes in 2012 compared with 2,648 homes in 2011.
The number of condos put under agreement in December was up 5.6 percent compared with December 2011 – 1,076 units in 2012 versus 1,019 units in 2011.
For the entire year, the number of single-family homes put under agreement in 2012 was up 25 percent over 2011, MAR reported today. Pending sales figures, also called homes under agreement, are a leading indicator of actual housing sales in Massachusetts for the following two to three months.
"Buyers in 2012 ‘walked the walk’ in terms of entering the market and making offers on homes," 2013 MAR President Kimberly Allard-Moccia, broker-owner of Century 21 Professionals in Braintree, said in a statement. "The positive end-of-year numbers are encouraging to moving us that much closer to a market recovery."
