New England Home Sales Down 25 Percent

The New England housing market experienced a seasonal year-over-year sales decrease of -8.0% and a month-over-month sales decrease of -25.4%. Pending sales were up 5.8% over November 2013, while month-over-month figures declined-20.4% over October 2014. Across New England, median prices rose year-over-year in every state except Maine, which was down -1.0%. Month-over-month, prices held steady, increasing 0.5% on average. “We expect to see home sales trailing off in the fourth quarter as we get into these cold winter months,” said Dan Breault, EVP/Regional Director of RE/MAX of New England. “The good news is that prices are holding steady across the region and homes are staying on the market fewer days than a year ago.”