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New England Shows 13 Percent Increase in Home Sales

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The recently released RE/MAX of New England October Monthly Housing Report shows an uptick of 13.0 percent in home sales year-over-year. Pending home sales are up on average 35.3 percent over October 2012. Inventory in Connecticut, Massachusetts and Vermont decreased over the previous month.

In Connecticut, the number of total transactions is up 16.8 percent year-over-year (the highest in the region), while the median price is down slightly at -1.3 percent. Connecticut led all of New England in pending sales – up a staggering 49.9 percent year-over-year.

Massachusetts experienced an uptick of 11.5 percent in total transactions year-over-year. The median price increased 11.7 percent . Pending sales were up 40.0 percent over October of 2012.

In New Hampshire, home transactions increased 11.9 percent year-over-year, while the median price rose 4.5 percent. Pending sales were up 11.7 percent.

Rhode Island home transactions were up 15.4 percent, while median price rose 2.5 percent. Pending sales were up 3.7 percent year-over-year.

Vermont experienced a boost in both total transactions, up 6.6 percent and median price up 2.9 percent year-over-year. Pending sales were up 23.5 percent year-over-year.

For more information, visit www.remax.com.

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