Neighbor News
RE/MAX of New England Releases August 2014 Housing Report
The New England housing market experienced a year-over-year (YOY) sales decrease of -8.8% and a -6.0% decrease from July 2014.
Market Overview
The New England housing market experienced a year-over-year (YOY) sales decrease of -8.8% and a -6.0% decrease from July 2014, according to The RE/MAX of New England August Monthly Housing Report.
Pending sales continued to trend upward at 9.6% over July 2014, despite national applications for home loans falling to the lowest point since December 2000, according to the Mortgage Bankers Association.
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Across the region, New Hampshire was the only state to show a month-over-month increase in sales, up 0.4%.
“We’re seeing the culmination of the end of a busy spring/summer season combined with rising mortgage rates,” said Dan Breault, EVP/Regional Director of RE/MAX of New England. “The good news is that pending sales are up 30% year-over-year and that bodes well as we move into the fall.”