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Buyers Seize the Market as Home Sales Increase in May
June 15, 2011, by RE/MAX InsightBy RE/MAX of New England - Last updated: Tuesday, June 14, 2011
Source: RE/MAX of New England June 2011 Housing Report
While year-over-year sales continue to lag, both home sales and prices increased month-over-month in May across New England, led by Rhode Island. With inventory levels down throughout the region vs the same time last year, the market is active with buyers who believe that prices have bottomed and interest rates will soon be on the rise. “Buyers are recognizing the true value of buying real estate,” said RE/MAX Executive Vice President, Jay Hummer. “We’re encouraged to see buyers back in the market taking advantage of low prices and interest rates.”
New Hampshire:
In NH the month-over-month data from April ‘11 to May ‘11 shows units a 16.3% increase in units sold, from 1,088 to 1,265 units respectively. In addition, the NH median price rose 5% from $176,165 to $185,000 month over month.
Massachusetts:
Massachusetts also proved to show strong results from April to May. Units sold rose 14.1% to 4,426 from 3,879 and the median price was up 7.2% to $292,250 from $272,500.
For more information, please see: http://www.remax-newengland.com and http://www.remax-insight.com
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