pending-home-saleThe number of single-family homes and condominiums put under agreement in July went up for the third straight month compared to the same time in 2010, according to a recent report from the Massachusetts Association of Realtors (MAR).

The number of single-family homes put under agreement in July was up 5 percent, to 4,253 homes compared to 4,050 homes during the same time last year.

The number of condos put under agreement in July was up 6 percent, to 1,558 units compared to 1,466 units in June 2010.

The last time there were three consecutive months of annual increases was February, March and April of 2010, according to a statement.

"Three straight months of year-over-year gains definitely gives us reason to be hopeful that buyers will continue to get back into the market and make offers before the summer is over," said 2011 MAR President Laurie Cadigan, broker-owner of Barrett & Co. in Concord.

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, according to a statement.

Mass. Year-Over-Year Pending Home Sales Increase For Third Straight Month In July

by Banker & Tradesman time to read: 1 min
0