The number of single-family homes put under agreement in Massachusetts in May was down 3 percent compared to the same time last year, while condominiums were down 6 percent, according to the Massachusetts Association of Realtors (MAR).
May is the first month since July 2009 that the number of both single-family homes and condominiums put under agreement has decreased compared to the year before, according to MAR.
Excerpts from the MAR:
The number of single-family homes put under agreement in May was down 3.0 percent compared to the same time last year (4,802 homes in 2009 to 4,663 homes in 2010). On a month-to-month basis, single-family homes put under agreement were down 16.4 percent from 5,580 homes in April.
The number of condos put under agreement in May was down 6.0 percent compared to May 2009 (2,025 units in 2009 to 1,894 units in 2010). On a month-to-month basis, condos put under agreement were down 17.4 percent from 2,292 units in April.