Issue link: https://viewer.e-digitaledition.com/i/555779
The Massachusetts Association of REALTORS (MAR) reported the summer market started out strong as pending home sales went up over 36 percent from the same time last year. T HE MOMENTUM FROM the spring market has pushed the REALTOR Market Confidence Index to its fifth highest point as the Price Index dipped down less than a percent from the same time last year. This month's "Hot Topic" question finds the majority of REALTORS will need time for the new RESPA/TILA regulations to feel "normal," despite the delay in implementation. June Pending Sales SINGLE-FAMILY JUNE 2015 JUNE 2014 %CHANGE Sales 7,316 5,349 36.8% Median Price $375,000 $364,900 2.8% Pending sales have been up 27 of the last 28 months. CONDOMINIUM JUNE 2015 JUNE 2014 %CHANGE Sales 2,777 2,082 33.4% Median Price $330,000 $332,000 -0.6% Pending sales have been up 27 of the last 28 months. "The summer market is heating up. June was a very active month even with the usual end-of-school activities and graduation celebrations," says 2015 MAR President Corinne Fitzgerald, broker/owner of FITZGERALD Real Estate in Greenfield. "Buyers are out there and they are making o"ers. Sellers who price their house correctly are benefiting from all this activity and entering into agreements shortly after they are listed." REALTOR Market and Price Confidence Indexes CONFIDENCE INDEX JUNE 2015 JUNE 2014 %CHANGE Market 78.47 63.89 22.83% Price 74.48 74.60 -0.17% … The RMCI was up for the fourth time in 19 months. … The RPCI has been down 13 of the last 15 months. … June is the seventh time the RPCI has been at 70 or above since August 2014. … Measured on a 100-point scale, a score of 50 is the midpoint between a "strong" (100 points) and a "weak" (0 points) market condition. "REALTORS continue to push the confidence indexes up because buyer activity has remained strong and should remain that way for the foreseeable future," says Fitzgerald. REALTY NEWS Massachusetts Pending Home Sales Up in June Set the Tone for an Active Summer | Greater Boston Builder+Architect BOSTON.BUILDERARCHITECT.COM