Pending Sales Continue Year Of Increases

The number of single-family homes put under contract in April was up 25 percent from the same month a year ago, according to the Massachusetts Association of Realtors.

In all, 5,580 homes statewide were placed under sales agreement during the month, up from 4,480 in April 2009.

Compared to March, so-called "pending sales" were up 16 percent from 4,808.

MAR said April was the 10th consecutive month that pending sales of both single-family homes and condos had increased from their year-before numbers.

Pending condo sales were up 22 percent with 1,878 units placed under contract in April.

A sale is considered pending when a buyer and seller agree to the terms of the sale, but have yet to close the transaction.