The RE/MAX of New England July Monthly Housing Report, released recently, shows solid growth in total transactions, pending home sales and median price in almost every state.
In Connecticut, the number of total transactions is up 17.6 percent year-over-year. The median price also jumped 5.4 percent.
Massachusetts experienced a 21 percent increase in year-over-year units sold. The median price also increased for another month, up 2.8 percent year-over-year.
In New Hampshire, units sold jumped 18.8 percent year-over-year, while the median price ticked up just 0.2 percent.
Rhode Island’s 32.4 percent year-over-year increase in units sold is the largest increase in New England, but the Ocean State is also the only state which did not experience an increase in median sales price.
Vermont home sales showed modest growth, experiencing a 1.2 percent increase in year-over-year units sold and a 1.1 percent increase in median price.
RE/MAX of New England Executive Vice President Dan Breault says with low interest rates and a tight rental market, many consumers understand it is now more affordable to buy a home than to rent.
For more information, visit http://www.remax-newengland.com/.