pending home salePending sales of single-family homes and condominiums fell during April compared to the same time last year, in large part due to April 2010 being the last month to put a home under agreement and still qualify for the homebuyer tax credit, according to a report from the Massachusetts Association of Realtors (MAR).

The number of single-family homes put under agreement in April was down 24.2 percent to 4,230 compared to 5,580 during the same time last year. This is the fourth straight month of year-over-year decreases.

The number of condos put under agreement in April was down 27 percent to 1,676 units compared to 2,292 units in April 2010, according to a statement. This is the 12th straight month of year-over-year decreases.

"While we would like to see increased buyer interest translate into more accepted offers, we still continue to move in a positive direction from last month," said 2011 MAR President Laurie Cadigan, broker-owner of Barrett & Co. in Concord. "Year-to-year pending home sales was down understandably this past April compared to April 2010, a month that had the most homes put under agreement since we’ve been tracking this data, as it was the last month to take advantage of the homebuyer tax credit."

 

Report: Pending Home Sales Fall In Bay State

by Banker & Tradesman time to read: 1 min
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