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Health & Fitness

Tight Housing Inventory, Strong Buyer Demand and QE Infinity points higher

This real estate market has momentum.  The sale of single-family homes sold in Massachusetts during the month of August grew 13.8% from the prior year.

“Due to the seasonal nature of the real estate market, this is probably the last month this year we’ll see such high volume. The busy summer selling season is coming to an end, but probably the year-to-year comparisons will stay strong for a while longer. This is further evidence of a strong market, and another great recovery year in real estate,” said The Warren Group CEO Timothy M. Warren Jr.

Not only are sales of single-family homes continuing to increase but the median sale price of these homes statewide has increased 10.6% to $340,000 in the month of August compared to last year representing eleven consecutive monthly increases.  That’s momentum.

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Although a very tight inventory market and strong buyer demand continues to fuel this strong growth in both sales volume and sale price of single family homes here in Massachusetts, there doesn’t seem to be any signs of slowing down in the near future.  Actually many pundits in past months were pointing to higher interest rates as a potential catalyst to slow the housing market.  Interest rates have continued to climb recently as many industry professionals were anticipating a slow down in the Federal Reserve purchase program nicknamed QE infinity.  However this weeks announcement from the Fed that it will continue its 85 billion dollar per month purchases of U.S. Treasury and Mortgage Backed Securities, may calm fears of higher interest rates and continue to fuel strong growth in the housing market.

Foreclosures down, inventory tight and strong buyer demand this is a Sellers market!!!

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ABOUT THE AUTHOR: Roger Martin is a Realtor with Century 21 Commonwealth.  Roger is a unique blend of both Realtor and licensed General Contractor with over 20 years of experience building Custom Homes, Renovation and Design.  Serving the Ashland, Brookline, Chestnut Hill, Concord, Dover, Framingham, Lexington, Marlborough, Natick, Needham, Newton, Sherborn, Sudbury, Wayland, Wellesley, Westborough, Weston and surrounding areas.  If you have questions, comments or suggestions for future articles or have interested buying or selling a home, please feel free to contact Roger at (p) 1.508.598.1934 ; (email) rogermartinre@gmail.com or visit my blog at  www.realestateinmassachusetts.org

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