Realtor Michael Mahoney
Michael Mahoney
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The Mahoney Reports

The Mahoney Reports

 Pending Home Sales Tumble in May for Third Straight Month

 

National Association of Realtors Report on Pending Home Sales

WASHINGTON (June 28, 2017) — The ongoing supply shortages that are propping up home prices in many metro areas caused pending home sales in May to slump for the third consecutive month, according to the National Association of Realtors®. None of the major regions saw an increase in contract activity last month.

“The lack of listings in the affordable price range are creating lopsided conditions in many areas where investors and repeat buyers with larger down payments are making up a bulk of the sales activity,” said Yun. “Meanwhile, many prospective first-time buyers can’t catch a break. Prices are going up and there’s intense competition for the homes they’re financially able to purchase.”

Existing-home sales are forecast to be around 5.63 million this year, an increase of 3.2 percent from 2016 (5.45 million). The national median existing-home price this year is expected to increase around 5 percent. In 2016, existing sales increased 3.8 percent and prices rose 5.1 percent.

Massachusetts Association of Realtors Report Dip in Closed Sales

Homes for sale reach lowest level for May since 2004

WALTHAM, Mass. – June 27, 2017 – The Massachusetts Association of Realtors® (MAR) reported today both single-family and condominium saw a slight dip in sales in May from last year. Despite the drop, median home prices for both single-family homes and condominiums hit new all-time highs. Inventory also reached the lowest level for the month of May since MAR began recording the data in 2004.

Pending Home Sales Dip in Massachusetts by Keller Williams Realtor Michael Mahoney

May Closed Sales from The Massachusetts Association of Realtors – click to see large image

 

Massachusetts Real Estate Inventory

Keller Williams Realtor reports on massachusetts real estate inventory

Massachusetts Association of Realtors – Click to see large image

Quick Summary of Massachusetts Residential Real Estate Market

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

Monday Morning Mah Jongg

Mah Jongg in Cambridge and Beyond

Intermediate Players welcome to join us for a fun game of mah jongg. We play quickly, chit chat, joke around and play a mean game of mah jongg.  Bring your current card and your wallet. Be prepared to win and win even when you lose. $4 pie.

Board Game Night!

Makers at the Newton Free Library

Come play some board games! The library had a large collection of games that will be available for play. You can see the list of what we have here. However feel free to bring any game from home you've been itching to play. This game night is for...

Monday Arabic social, conversation, reading practice - Central Square

Boston Area Arabic & English Language Meetup

هلا هلا يا جماعة! No need to be right on time, I am sure people's schedules vary and I am sometimes a bit late myself depending on work.    They do separate checks - please remember to pay for what you order on your way out, or...

Taijiquan (Tai Chi) in Mission Hill

The Boston China Interest Network 波士顿中国兴趣俱乐部

We are a small, friendly group that is always happy to welcome both new and experienced martial artists. We are learning and practicing the Yang-style Long Form. Our class typically begins with a brief standing meditation, a few warm-up exercises...