The effects of a nasty winter during the first two months of 2015 reverberated through New England”™s housing market in February, according to a housing report by RE/MAX, but failed to undercut positive growth overall.
New England home sales reflected the inclement weather with a decrease of 13.5 percent compared with January”™s numbers, RE/MAX reported. But year-over-year, home sales increased by 2.1 percent in the region, with 7,817 recorded sales.
Connecticut, which was spared the monster snow accumulations seen in Massachusetts, was a brighter spot in February, with sales up 6.4 percent compared with January, to 2,461 units, and median price up 2.7 percent, to $224,950.
Across New England, median prices headed up, with every state in the region showing modest price appreciation over February 2014”™s figures.
On average, home prices rose 5.6 percent in New England year-over-year. Throughout the region, pending sales were up 4.5 percent year-over-year and 3.3 percent over January”™s numbers.
“The continued, sustained snowfall has been an incredible challenge for the region”™s housing market,” said Dan Breault, executive vice president and regional director of RE/MAX of New England. “With parking bans, power losses and dangerous road conditions, many consumers have sidelined their home search, content to wait for warmer weather. Fortunately, spring is just around the corner and with low inventory and rising prices, we anticipate a busy spring season.”
