New England Housing Market Slows Over Last Month

Posted on September 16, 2013 · Posted in Housing Reports

The RE/MAX of New England August Monthly Housing Report shows that home sales are up over the same time last year, but are down month-over-month. Year-over-year, the number of homes sold are up 8.9%, but month-over-month are down 5.1%. Every state except Rhode Island and Connecticut reported a decrease in inventory over the previous month. Rhode Island experienced a 209.6% increase in inventory.

“Year-over-year, home sales are still trending up while month-over-month activity shows the New England market slowing down a bit. This seasonal activity is normal as families settle in before school starts,” said commented Dan Breault, EVP/Regional Director of RE/MAX of New England. “Our RE/MAX agents are reporting that they are incredibly busy due to low inventory levels, bidding wars and active buyers.”

To view the entire report, click here.