Just as of late, we have been heavily discussing some of the performances in the Real Estate market as the opening months of 2012 have been immensely successful. From numbers achieved in the town of Somerville explaining the States first quarter triumphs to another blog discussing the 20% increase in single-family sales Massachusetts saw for March of 2012, month-over-month the positivity amongst the populace is growing.
For the twelfth straight month as of April of 2012, pending sales for both condominiums and single-family home sales have increased! This is utterly fantastic. To realistically think that while much of the United States is still in dire need for any positive sign regarding their Real Estate market and economy as a whole, those within The Greater Boston Area are certainly in quite the lofty position.
So what were the exact findings from the month of April?
- Condominium pending home sales increased 1.3% in April of 2012 compared to the previous month of March
- When looking at year-over-year statistics, Condominium pending home sales were up 30.9% in April compared to a year ago in April, 2011
- Single-family pending home sales increased 5.9% in April compared to the previous month of March
- Finally, when looking at year-over-year statistics, single-family pending home sales were up 35.6% compared to a year ago in April, 2011
If there still are doubters and skeptics out there regarding the market in the State of Massachusetts, that is fine. Of course, many people throughout this State and the greater nation completely lost trust and faith in such an industry because of the financial hardships they had to endure as they stared deeply into the face of the economic recession. However, there will always be a rebound effect in this field, one that can relate to any business markets peaks and troughs.
The magnet effect is in full force in Massachusetts as investors from a variety of industries are coming to the area, as are countless prospective Real Estate buyers. It can be inferred that if simply outside money is infiltrating the market, this can not be fully accepted as an accomplishment. This absolutely is not the case; Bostonians and those living near and far from the Hub are also seeing the benefits of relocating or investing in other property locally. Buying now is key especially since mortgage and interest rates are at all time lows.
With such a solid backbone for a sustainable and appreciating market for the prolonged future as evidenced by the many statistical reports (such as the figures mentioned above), our market has a great advantage over the rest of the country for continuing this impressively positive turnaround. Trends like these are what make us so proud to be in this business helping individuals find the home, commercial space, land, rental or vacation property of their dreams. With residents and visitors alike beginning to follow this domino wave by increasingly reflecting and embracing such optimistic sentiments that we and studies both share, the current status quo of the Boston Real Estate market and its surroundings is one with a bright 2012 ahead of it.
More Information: The MAR Report