A surge in home sales in November and strengthening property values are adding to a growing sentiment in the real estate industry that 2012 will mark when the housing market in Massachusetts officially began its recovery.
With the supply of available properties still thin, homes are selling quickly and prices are edging up, prompting real estate specialists to predict that the days of bargain prices for residences are likely to be over soon.
“This year marks the shift in housing,” said John Ranco of Hammond Residential Real Estate in South Boston. “Over the next couple of years we will start to see prices heat up a little bit.”
Last month, 4,539 single-family properties traded owners — the best November for sales since the market peak in 2005, the Warren Group, a Boston company that tracks local real estate, reported Thursday.
The number of single-family home sales through the first 11 months of 2012 exceeded that of all of last year, and the year will probably be the strongest since 2006.
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