July 25, 2014 | Updated 12:00am

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Tuesday, July 15, 2014, 11:43am

MAR: Pending Sales Up, Realtor Confidence Down

June single-family pending home sales hit their highest level in Massachusetts since the Massachusetts Association of Realtors (MAR) began tracking pendings in January 2004, the trade group reported today. Nevetheless, Realtors' confidence in the strength of the market declined somewhat compared with last year, according to MAR's index.

There were 6,253 single-family pending sales in June, up 19.8 percent from June 2013's 5,221, with median prices rising to $365,000 from $351,000. This is the 16th-straight month of single-family year-over-year increases in pending sales, and the most homes put under agreement in June since MAR has been tracking this data.

Pending condo sales also rose this month, climbing to 2,382 from 2,105 in June 2013, an increase of 13.2 percent, with median condo prices rising to $330,000 from $320,000. This is the highest number of condos put under agreement in June since 2005, when 2,587 units were put under agreement.

"June capped off a very lively spring for pending home sales in Massachusetts," 2014 MAR President-Elect Corinne Fitzgerald, broker/owner of Fitzgerald Real Estate in Greenfield, said in a statement. "This activity should act as another positive sign for homeowners who want to sell, but who have been holding off. With the inventory still low, sellers-to-be would be in a good position to enter the market."

Despite the record number of listings put under agreement, local Realtors were less confident in the strength of the market than at this time last year, with MAR's Realtor Market Confidence Index falling to 63.89 in June 2014 compared with 76.4 in June 2013, a decline of 16 percent. Realtors were more bullish on continued high prices with the Realtor Price Confidence Index just slipping to 74.6 in June 2014 compared with 75 in June 2013.  This is the eighth-straight month that the confidence index has gone down. 

"While the Realtor Market Confidence Index continues to be in the positive range, the market needs an infusion of homes for sale to push that number back up to where it's been in the past," said Fitzgerald.


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