Feb 26, 2008 11:06 am US/Eastern
Mass. Housing Market Declines Again In January
BOSTON (AP) ―
The slump in Massachusetts' housing market deepened in January.
Reports from two organizations show a 28 percent decline in sales of single-family homes last month, compared with the same month a year earlier.
The Warren Group says
last month's sales fell to the lowest level for January since the financial data publisher began tracking real estate information in 1987.
Prices also declined in January, a typically slow sales month. The Warren Group reported a more than 4 percent decline in the median single-family home price compared with a year ago.
The Massachusetts Association of Realtors reported a slightly bigger drop of nearly 6 percent. "Sales in any given month are a result of buyer activity 60 to 90 days prior, and there is no question January reflects the anxiety people were feeling about the economy that last two months of 2007," said MAR President, Susan M. Renfrew, broker/co-owner of Renfrew Real Estate in Greenfield.
Both organizations reported a January decline in condominium sales of more than 30 percent.
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