Number Of Home Sales Shows Increase

Share this on:

The real estate market for this year has a positive outlook from economists anticipating that home sales should be robust while Fannie Mae and Freddie Mac speculate that rates should stay low. In terms of what is actually happening as of late, the National Association of Realtors (NAR) has recently shared a report claiming that home sales have been showing substantial growth.

Number of Home Sales

The total number of home sales of single family homes, townhomes, condos and co-ops have increased at the end of 2020 during the month of December by 0.7% from the month before. Comparing growth year over year was most notable as sales were up by 22.2% from the same time in 2019.

"Home sales rose in December, and for 2020 as a whole, we saw sales perform at their highest levels since 2006, despite the pandemic," said Lawrence Yun, NAR's chief economist. "What's even better is that this momentum is likely to carry into the new year, with more buyers expected to enter the market."

Inventory Levels

At the end of 2020, housing inventory remained tighter than ever. The total number of available properties for sale decreased 16.4% in December from the month before and by comparison to 2019 at this time was down by a significant 23%. This had made the available inventory to sit at an all time low of 1.9 months of supply at the current sales pace.

Days on Market

Properties were on the market for sale for an average of 21 days in December of 2020. With the lack of inventory at this time the average time on the market was much lower than December of 2019 at 41 days.

Mortgage Rates

Home loan rates were at extreme lows at the end of the year with Freddie Mac sharing that the average commitment rate for a 30 year fixed mortgage had fallen to as low as 2.68%. By comparison, the average rate for all of 2020 was 3.11%

Beth Dickerson

Boston, MA

Primary phone
(617) 510-8565
Email
[email protected]
Address
277 Dartmouth St. , 2nd Floor,
Boston, MA 02116

About The Author

One of Boston’s most reputable real estate brokers, Beth Dickerson has achieved more than $2 billion in sales and thousands of successful real estate transactions over her nearly thirty-year tenure. Beth has received national acclaim from the real estate industry and represents some of the most prestigious residents and properties across Massachusetts. Her enduring record as a top producer comes from the intuitive gift of sensing her clients’ needs. She has built a business that is referral-based at its core—a testament to her relationship-driven approach and penchant for exceeding expectations. It is this nuanced expertise that Beth leverages to guide many of her clients-turned-friends through some of the greatest milestones of their lives.

Beth was the proprietor of her own real estate company before joining the residential division of R. M. Bradley in 1993, where she was a top producer for more than a decade. In 2003, she founded her own boutique real estate firm, Dickerson Real Estate, before merging with Gibson Sotheby’s International Realty in 2007. Today, Beth attributes her success to her comprehensive marketing and advertising strategies, exclusive contact network, and unparalleled insight into neighborhoods like Back Bay, Beacon Hill, the South End and Waterfront. With an understanding that no two clients are alike, she works with clients in all phases of life—from first-time buyers to luxury developers, seasoned sellers and beyond. Beth offers clients the resources to aggressively market their property locally, nationally and globally, and her attention to detail, drive and enthusiasm are unmatched.

Beth has appeared in prestigious media outlets including The Wall Street Journal, Mansion Global, The Boston Globe, and Boston magazine, and was prominently featured as Greater Boston’s real estate expert on WCVB Chronicle in 2020. She has had the honor of serving as President of the Downtown Council of the Greater Boston Real Estate Board. For over ten years, she has been a Co-Chair and Committee Member for the Massachusetts General Pediatric Hospital for Children’s Storybook Ball. She serves as a Board Member of the Community Music Center of Boston and a member for the Perkins School for the Blind, Emerald Necklace Park Conservancy, Justine Liff Luncheon, Youth Villages and the Boys & Girls Club of Boston, among dozens of other organizations throughout the Boston area.

A long-time resident of Boston’s Back Bay, Beth was an active member of the community as she raised her two children: she served as treasurer of the Clarendon Street Playground and was an avid supporter of the Hill House Community Center.