Realtor Michael Mahoney in Boston with eXp Realty
Michael Mahoney
617-615-9435617-615-9435

Existing-Home Sales Fade in December; 2017 Sales Up 1.1 Percent

Michael Mahoney  a Boston Realtor sells homes in winterWASHINGTON (January 24, 2018) — Existing-home sales subsided in most of the country in December, but 2017 as a whole edged up 1.1 percent and ended up being the best year for sales in 11 years, according to the National Association of Realtors®.

Total existing-home sales1, https://www.nar.realtor/existing-home-sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 1.1 percent in 2017 to a 5.51 million sales pace and surpassed 2016 (5.45 million) as the highest since 2006 (6.48 million).

In December, existing-home sales slipped 3.6 percent to a seasonally adjusted annual rate of 5.57 million from a downwardly revised 5.78 million in November. After last month’s decline, sales are still 1.1 percent above a year ago.

Lawrence Yun, NAR chief economist, says the housing market performed remarkably well for the U.S. economy in 2017, with substantial wealth gains for homeowners and historically low distressed property sales. “Existing sales concluded the year on a softer note, but they were guided higher these last 12 months by a multi-year streak of exceptional job growth, which ignited buyer demand,” said Yun. “At the same time, market conditions were far from perfect. New listings struggled to keep up with what was sold very quickly, and buying became less affordable in a large swath of the country. These two factors ultimately muted what should have been a stronger sales pace.”

The bottom line right now in Boston real estate market is that the inventory is still really low and we could use some of the baby boomers homes to sell in the open market since there are a lot of buyers looking to settle down into those homes and create their American Dream.

Curious What Your Home is Worth

Full Press Release from The National Association of Realtors Here

Comments are closed.

Reviews

5suzannechapman1208

I selected Mike after having a very unsuccessful experience with a previous broker. He had excellent ideas in helping to sell my house and continued to advertise it with a fresh perspective. His experience helped in a number of ways and I only wish we had... (more)

5goodlife99

This is the second property I have sold in Weymouth MA with Mike as my broker. He research the area and give you all the information you need to decide what to list your property for, so it sells timely. He also helps review and negotiate all offers and is... (more)

5SullyLemmons

We had been trying to sell our condo for well over a year and decided to give Mike a shot at it as he came well recommended. It was not easy for him but he persisted and had success. Even though it wasn't a big sale or profit for him, he acted as though it... (more)

Review Michael Mahoney on Zillow.com

Community Events

Weekly Networking Meeting

Roxbury BNI: Business Referral Networking

Come join us each week to network with like-minded professionals. Our mission is to build a community in the Roxbury-area where we can grow our businesses while building lasting relationships.

Isabella Stewart Gardner Museum

Introverted Women (20s and 30s)

The Isabella Stewart Gardner Museum is open until 9 on Thursdays. I'd like to see the Common Threads exhibit and the rest of the museum. The Boston Pubic Library offers a pass that gets $5 admission for up to 4 people. The main branch passes are...

Brighton's L.I.G.H.T. Bible Talk

Boston Bible Discussion & Study

Come join us for an awesome, life changing and fun Bible Discussion! Our goal is to help each other deepen and strengthen our walk with God!

Friday Early Afternoon Game Advanced players

Mah Jongg in Cambridge and Beyond

Advanced players only. We play for money. Please RSVP. Bring your set if you have one. We play quick and strategic games. We have fun whether we win or lose. Bring your current Mah Jongg card and a sense of humor.$5 pie.