- Credit: The Boston Globe
home sales jumped 10 percent in December due to falling mortgage rates – deeming the strongest year-to-year sales increase of 2014. Sale prices have risen from $322,000 in 2013 to a median $330,000.00 in 2014. The 2.5% increase due to low mortgage rates and strong job growth has fed hope to real estate economists whom predict a strong 2015 year ahead. Although Boston has a relatively stable market, the limited, yet in demand land, is proving its advantages.
From The Boston Globe:
Annual home sales, just under 49,000, slumped 2 percent last year, down from about 50,000 in 2013…Prices, however, rose in 2014, to a median $330,000, up 2.5 percent from $322,000 in 2013.
Timothy M. Warren, chief executive of the Warren Group [notes], ‘We have not seen a bump like [December] in over a year,’ he said. ‘With rates hitting historic lows for 30-year mortgages and strong job growth, I am confident that we will see a strong start to 2015.’