Boston Area Housing Market Going Strong

The Boston area housing market is continuing to look strong, as is the entire Massachusetts market. According to the Massachusetts Association of Realtors, pending sales for single-family homes and condominiums increased for the 21st straight month in January.

The Greater Boston area housing marketing continues looking strong.MAR’s president, Kimberly Allard-Moccia, said “Late 2012 pending sales reports indicated that the closings for the first months of 2013 would most likely be up, but today’s report gives us reason to believe the same will be true about the early spring.”

Single-family homes put under agreement in January reached 3,076, up from 2,599 homes in 2012, an 18.4 percent increase. Condos put under agreement last month increased 22.3 percent to 1,216 units, up from 994 dwellings in 2012.

MAR said tracking of signed purchase and sales agreements, also called “pending sales,” give a hint about where the real estate market is headed. A pending sale or a sale “under agreement” is when the buyer and seller agree on the terms of the sale and have a signed purchase and sale agreement, but have yet to close at the Registry of Deeds.

With interest rates starting to show signs of leaving the bottom of the rate market and heading higher into the summer, there has never been a better time to start looking for Boston area housing than right now. Even with a ton of snow on the ground, now is the time. Fewer people are looking right now, meaning you have a better shot at what available inventory there is in the Boston area housing inventory.

To begin searching for Boston area housing now, just click the Search for Boston Real Estate link at the top of this page, or simply start here!

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