House sales on rise 15 months and counting

November 18, 2012 by  

If the number of home sales continues to rise in Massachusetts, the value of local homes could soon gain some ground.

Sales figures released for the month of October 2012 indicate that the number of single family homes purchased in Massachusetts is up and the growth trend has stayed consistent for the last 15 months.

According to The Massachusetts Association of Realtors, more than 3,500 homes moved in September 2012, up almost 100 over the same time period in 2011 – an increase of nearly 3%.

Condo sales were right behind, with 1,429 units sold in September – up just over 10% compared to September 2011.

This is good news for the economy and will create a sense of optimism among real estate support businesses such as print companies, as they have the capabilities to create impressive listing sheets, property portfolios, and signage.

A Newburyport broker from the realty company Keller Williams and president of the Massachusetts Association of Realtors said:

“September numbers show that buyers took advantage of market conditions to push home sales up again. Despite the decreasing inventory of homes for sales, prices continue to stabilize and compared to the peak years are a good value for those people looking to buy.”

The purchase prices of single family houses and condos have still to recover while mortgage rates have increased slightly. A 30-year mortgage, as of October 25, 2012, was 3.41%, while the shorter amortization 15-year version settled at 2.72%.