July and August dropped off seasonally, as the chart shows. In an earlier post, I had expressed the hope that low prices and low interest rates might give some lift to pendings as the year progressed. That possibility, if it ever existed, was dampened by the unusually rainy summer this year. We'll see what fall brings.
The chart is based on numbers drawn directly from our regional MLS for five counties in eastern Massachusetts and two in southern New Hampshire. Together, they make up the Boston Metropolitan Statistical Area, or MSA. It is a market area defined by the federal Office of Management and Budget, and adopted by the major private and federal housing indices.
When I use any of the terms, "Metro Boston," "Boston region," or "Boston area," I'm referring to the Boston MSA.
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