This is not good…well, at least not for me…
Last month, 3,014 single-family homes were sold in Massachusetts, compared to 4,320 for the same month last year – a stunning 30 percent drop – as the $8,000 federal tax credit expired and historically low mortgage interest rates failed to boost sales.
There was one bright spot in the single-family home sales data. Median prices increased by 6 percent to $330,000 in July, up from $310,000 a year ago.
Condominium sales also fell last month. A total of 1,173 condos changed hands in July, down from 1,804 for the same period last year – a whopping 35 percent decline. Median condo prices were up modestly to $294,500 in June from $277,250, a 6 percent hike.