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Mass. home sales down again in April, but prices soar

Boston condos

Boston condos

The Warren Group is reporting that home sales in April declined once again, making it the third month in a row for declining sales here.

Meanwhile, prices continue to climb.

The Warren Group’s Timothy M. Warren puts it simply: “There is high demand and low inventory this spring, which is causing this pattern of rising prices and dropping sales volume. … Despite the news that sales volume is down, low mortgage rates and steady home values are helping buoy consumer confidence.”

File under: Supply and demand, Economic 101