NEW: MA Home Sales on the Rise in May Monthly Housing Report

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Wednesday, June 19, 2013

GolocalWorcester Real Estate Team

The RE/MAX of New England May Monthly Housing Report shows that, across the region, house sales have risen, both month-over-month and year-over-year.

The report indicates Massachussetts home sales increased 8.8% year-over-year. MA home median price rose 7.7%, the largest increase in New England.

Compared to the Rest of New England

The May report showed that, on average, the New England median home price increased 3.4% and pending sales are up 61.5% year-over-year. Median home prices rose in every state, except Vermont where prices fell 2.3%.

Connecticut, Rhode Island, and New Hampshire saw the most growth, reporting double-digit jumps both month-over-month and year-over-year, while Vermont reported smaller increases in home sales at 7.9%.

“Inventory continues to wane as activity in the market increases, Dan Breault, EVP/Regional Director of RE/MAX of New England, said in the Housing Report. "With increased competition, low inventory, and competitive mortgage rates, home sales are anticipated to remain strong throughout the summer.”

New England Summary

• Massachusetts transactions were up 8.8% year-over-year. The year-over-year median price increase of 7.7% is the largest increase in New England.
• Rhode Island posted the largest year-over-year gains in total home transactions in New England, up 35.2%, while median price rose 4.2%.
• In Connecticut, total transactions is up 17% year-over-year, while the median price stayed steady, up by 0.3%
• New Hampshire home transactions increased 12% year-over-year, while the median price lept 6.5%.
• Vermont's total transactions rose 7.9%. Year-over-year median price lowered -2.3%.

For more informaton or to view the full report, click here.

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