Massachusetts home sales in July were off by 27 percent from last July, the biggest decline for a single month since 1995, the Warren Group of Boston reported Tuesday.
The median sale price in July for a single-family home was down 6 percent, and the median sale price for a condo dropped 4 percent from the same month last year, according to the Warren Group, which logs all sales recorded at state’s registries of deeds.
Massachusetts ranked 48th in the creation of new housing between July 1, 2004 and July 1, 2005, according to U.S. Census Bureau data released Monday.
The state added 15,953 housing units in that time period — a 0.6 percent increase in housing, compared to the 1.5 percent overall growth of the nation’s housing stock.
Problem solved! We don’t need to build anymore housing, if no one’s buying, right?