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Pending Home Sales Up in December

It appears as though the amount of single-family property homes that have gone under agreement have increased year-over-year for the month of December yet again. The numbers for homes going under agreement, or when the buyer and seller have agreed to the terms of the sale and have signed the purchase and sale agreement but have yet to close on the deal, have increased over an eight month time period running through the end of 2011.

An 11.7% increase for December, 2011 brought fourth the number of signed purchase and sale agreements of 3,227, whereas in December of 2010 this number was only at 2,888. These figures were acquired from the Massachusetts Association of Realtors (MAR). MARs President, Trisha McCarthy, notes that the exceptionally lower interest rates, coupled with the lower average prices for homes of late is much the reason for such promising numbers as we trek forward into this new year.

There is no month we would like to see doing well more-so than the most recent, thus meaning this past December. At a time where transactions are historically slow due to the holiday season in December, such month-to-month and year-over-year improvements are much to get excited about in real estate for 2012!

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