In Massachusetts and certainly in Boston more specifically, we
have been very fortunate to receive such optimistic results
regarding the performance of our Real Estate market, especially as
2012 has really taken off. Month over month the news keeps getting
better and this domino effect is once again present as the final
numbers collected from May of 2012 can now be shared.
According to the Massachusetts Association of Realtors, pending
sales for single-family homes reached 5,267 in May which was an
improvement by 32% over the same month of May for 2011. In
addition, this number being over 5,000 was the first time that such
a plateau has been achieved for any month since the MAR
organization began collecting this pending sales data in January of
2009. In continuation of this uplifting news, it comes to be known
that nine of the last ten months have seen single-family home sales
go up and this is something that hopefully will continue to drive
us through the rest of 2012.
For pending home sales statistics, we reported in another blog
regarding Aprils results that these numbers also climbed for an
astonishing twelfth straight months in the State of Massachusetts.
Along these same lines, another one of our more informative and
recent blogs
discussed how April outperformed March of 2012 not just in this
State but across the whole country. What we are primarily concerned
with is our local markets and economy of course, and once again we
shared in a wonderful blog about
how Aprils final results from 2012 not only exceeded those from
March of this year, but also realized a serious boost in sales when
compared to April of 2011 as well.
Furthermore, pending condominium sales also were on the rise for
the thirteenth month in a row up to 2,216 in our local markets. The
mortgage activity is also seeing an injection of attention lately
from a jump in refinancing due to record-low interest rates and an
improved federal Home Affordable Refinance Program. Focusing in on
the mortgage situation in Massachusetts, there has been 28% more
business in the first four months of 2012 compared to that of a
year prior.
So far, our fingers can now be loosened to be slightly less
crossed and our breath can be let out a tad from being desperately
gasped in fear of what the future holds for our Real Estate market.
These times of vast uncertainty is in the past. With a knock on
wood we can only hope that we do not incur any setbacks and that
2012 will continue to bridge us towards many forthcoming years
defined by success and growth.
More Information: Boston Herald