The New England housing market experienced a year-over-year (YOY) sales decrease of-3.6%, according to The RE/MAX of New England July Monthly Housing Report.
Pending sales continued to trend upward at 41.9% over July 2013. Month-over-month, sales were down -2.3% across the region and Vermont was the only state in New England to experience a sales increase, up 12.3%.
“While sales are down slightly over last year, we’re still seeing the results of a better economy,” said Dan Breault, EVP/Regional Director of RE/MAX of New England. “Homes are staying on the market fewer days both year-over-year and month-over-month, and pricing remains up over July of last year.”
Year-over-year sales decreased -3.6% according to TheRE/MAX of New England July Monthly Housing Report. Pending sales continued to trend up, rising 41.9% over July 2013. Month-over-month, the picture is similar with home sales down -2.3% and pending sales up 8.4%. Across the region, homes are staying on the market an average of 3 fewer days YOY, while median price is up 1.2%.
· In Connecticut, the number of total transactions is down -2.4% year-over-year and median price declined -0.7% Pending sales were up 24.4% year-over-year.
· Massachusetts showed a decrease of -5.6% in total transactions year-over-year. The median price increased 3.1%. Pending sales were up 77.8% over July of 2013 – once again, the highest in the region.
· In New Hampshire, home transactions decreased -0.1% year-over-year, and median price remained flat. Pending sales were up 11.3% year-over-year.
· Rhode Island home transactions fell -4.2%, while median price increased 1.8%. Pending sales were up 6.6% year-over-year.
· Vermont showed an increase in total transactions, up 4.3%, while median price increased 1.4% year-over-year. Pending sales were up 7.2% year-over-year.
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