The National Association of REALTORS® (NAR) recently reported that January and February home sales were the best in five years. According to a MarketWatch.com article, the Chief Economist for NAR said that real estate agents are enthusiastic that the real estate market is improving and that the improvement is partly due to unusually warm temperatures. However, according a J.P. Morgan economist cited in the article, indicators of improvement were appearing before the warm weather started.
ABC News also reported on the improved real estate numbers as well.
Massachusetts also released it’s job numbers for the months February. In a press release from the Executive Office of Labor and Workforce Development, Massachusetts added 9,100 jobs. However, the Massachusetts unemployment rate remains at 6.9%, which is still lower than the national average.
According to economists at NAR, the number of people filing for unemployment have also dropped. This report stated that part of the reason for the improvement in the real estate market is increased consumer confidence, which echoes the sentiments expressed by Congressman James McGovern when I asked him the real estate market.
I must say that I have been noticing increased activity as well. My phone is ringing with more people looking to buy a home. Give me a call at 413-531-7129 if you are thinking of selling your home.