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Pending Transactions Up – Inventory Remains Low

Home Prices risingAccording to the latest Zillow Weekly Market report, recent pending home sales in the nation went up again for an increase of 2.1 percent week over week and 13.7 percent Month over Month for the week ending June 20. These areas experienced the most significant spikes in pending home sales for this week: Buffalo (+26.3 percent), San Jose (+19 percent), and Nashville (+14.4 percent), Boston was down a little at -3.7 percent. Month over Month, Boston home sales were up 26.2 percent. New listing Inventory is down Year over Year -17.1 percent.

According to Zillow, Boston home sales have sped up with properties selling at the fastest pace in more than two years. During this week, homes sold after ten days on the market, on average.

Zillow expects Boston home prices to increase 6.1 percent from April to October 2020, with a slower recovery through 2021.

Source: Zillow

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