Sales up, prices down
Congress ultimately extended the $8,000 homebuyer tax credit, but it appears the mere thought it might expire drove people to buy last month in Massachusetts.
But it didn’t help prices. They were down.
The credit may have distorted the median-price figures, as first-time buyers rushed for deals in the mid- and lower-end ranges. The November numbers should be interesting.
Of course the big test comes next spring, the traditional start of a new year’s selling season and when the extended credit is due to expire again.