From the Boston Herald: Housing rebound is in sight. Excerpt:
Statewide homes sales rose 4.5 percent last month to 3,785, up from 3,623 in September 2008. The median home price slipped 1.4 percent to $285,000, but the decrease was the smallest price drop in two years.
Condominium sales also perked up by 3.7 percent in September. The median sale price dipped 2.3 percent to $259,000.
“There’s lot of sales at the lower end of the market, which tends to drag down the median,” Warren said. “As a result, the median price may not accurately reflect home values.”
In Boston, home sales fell by 17 percent but the median price rose 4.5 percent to $345,000.
“Boston is further along in its recovery,” said David Stiff, chief economist at financial services firm Fiserv. “It never had very extreme prices compared to California and Florida. In terms of homes prices, I expect by next spring we will start to see an unbroken series of positive appreciation.”