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RE/MAX of New England Releases May Housing Report

The New England housing market experienced an average year-over-year sales drop of -8.4%, according to TheRE/MAX of New England May Monthly Housing Report. This is the fifth consecutive month of year-over-year declines in 2014. However, pending sales were up slightly at 3.7% over May 2013, and median prices were up in every state except Connecticut. Month-over-month, the spring market produced an uptick of 26.2% in home sales and pending sales were up 30.9%. “We’re seeing sales momentum grow across New England as we hit the warmer weather,” said Dan Breault, EVP/Regional Director of RE/MAX of New England. “Even more encouraging is that homes for sale are sitting on the market for fewer days. That figure is down -8.5% year-over-year and -10.7% over last month, as prices generally increased overall across the region.”

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