REGIONAL SPOTLIGHT—The recent RE/MAX of New England August Monthly Housing Report shows continued stabilization in the New England housing market. Once again, every state in New England showed month-over-month and year-over-year growth in home sales.
In Connecticut, the number of homes sold is up 15.9 percent year-over-year. Pending home sales are also up a dramatic 48.1 percent — the largest increase in New England – pointing to strong activity throughout the fall.
Massachusetts home sales jumped 21 percent year-over-year, and the median price inched up a modest 1.0 percent. Pending home sales are also up 25 percent, suggesting this growth will continue throughout the fall.
In New Hampshire, home sales increased 23 percent year-over-year, with pending home sales up an encouraging 38 percent year-over-year.
Rhode Island’s 25.2 percent jump in year-over-year home sales is the largest increase in New England in August. The Ocean State’s pending home sales are also up 40.1 percent year-over-year, pointing to strong activity throughout the fall.
Vermont experienced the largest year-over-year increase in median price, up 3.1 percent. Home sales also jumped 16.1 percent while pending home sales increased 34.1 percent.
RE/MAX of New England Executive Vice President & Regional Director Dan Breault says pricing should remain favorable for buyers throughout the fall, but a decrease in inventory may give sellers an advantage.
For more information, visit http://www.remax-newengland.com/.
