Report: Pending home sales in Massachusetts decrease by 17.6 percent in February

According to a recent report from the Massachusetts Association of Relators, pending home sales during February decreased by 17.6 percent from a year earlier. In addition, condo sales also declined by 21 percent year-to-year.

Last week, the MAR and Boston-based firm the Warren Group issued their monthly report concerning real estate activity. The analysis shows the housing market struggled, while sales during January rose compared to the previous year. However, prices for real estate fell from their 2010 values for the second month in a row.

While expert state these figures could be troublesome, there was some optimism among realtors toward the end of the month.

"While lingering weather kept pending home sales down in February, realtors across the state did see the number of prospective buyers asking to see homes go up the last two weeks of the month," said the MAR's association president, Laurie Cadigan. "Hopefully, the momentum from interested buyers at the end of February will continue and result in signed offers through the entire month of March."

MAR and the Warren's Group report isn't the only one expressing some concern regarding the pending home sales market. Recently, the National Association of Realtors reported pending home sales declined during January, the second straight month showing a downward trend. 

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