Massachusetts Real Estate Trends Showing Significant Strength
Brought to you by Hingham Real Estate Agent Alice Pierce
The Plymouth County Registry of Deeds: January 2017 Real Estate Activity
Foreclosure notices drop by more than half and mortgage activity shows strong activity for the first month of 2017.
The Plymouth County Registry of Deeds reports a strong start to the new year of 2017. Mild winter weather has coincided with a solid beginning for January for the second year in row. January of 2017 actually saw an 8% increase in home sales when compared to January of 2016.
Last January there were 637 deeds recorded, and for January of 2017 there were 685 deeds recorded. Register of Deeds John R. Buckley, Jr. said, “This represents an 8% increase in sales compared to 2016, giving us reason for cautious optimism for the new year.”
In their monthly real estate summary, the Plymouth County Registry of Deeds cited an article from the Boston Globe regarding inventory of homes that are available on the active real estate market. The Boston Globe reported that low inventory is the biggest concern for the real estate market in 2017.
The Massachusetts Association of Realtors (MAR), reported that in December of 2016, Massachusetts had its 59th straight month of year-over-year decreases in the number of single family homes available for sale. MAR also reported December as having the lowest number of homes for sale in Massachusetts since 12 years ago.
The January mortgage activity increased significantly when compared to the same month last year. In January of 2017 there were 1,674 mortgages recorded at the Registry, and in 2016 there were 1,412 mortgages recorded in January. This is a 19% increase in the month to month comparison.
“Hopefully we will see continued strength in the mortgage market. We will not only be watching the housing inventory, but we will also be watching mortgage rates as we move into this year’s spring market,” Register Buckley stated.
There were 55 foreclosure deeds filed for Plymouth County in January of 2017 compared to 52 recorded in January of 2016. This is a 6% increase. Statistical optimism was evident in the filing of foreclosure notices, which are the first recorded documents in the process of a foreclosure. Theses notices saw a weighty decrease of 58%. In January of 2016, 154 home foreclosure notices were filed with the Registry, compared to only 65 notices filed in January of 2017.
As part of The Plymouth County Registry of Deeds revolving displays of some of America’s earliest documents, on Tuesday, February 28th, from 9:00 am to 3:00 pm, the Registry will display an original Plymouth Colony record of one of the earliest governing bodies, the Commissioners of the United Colonies. The display is open to the public and can be viewed at the Plymouth Colony Records, Storage and Reading Room which is located on the second floor of the Plymouth County Registry building at 50 Obery Street, Plymouth.
For more information please visit the Plymouth County Registry of Deeds website.
Enjoy all the positives of the south shore of Boston. Feel free to contact Coldwell Banker Realtor Alice Pierce through her website, email or telephone 781-724-7622 about articles, community information for Hingham, MA, Cohasset, MA, Hull, MA, Norwell, MA and any other South Shore towns.