Signs are multiplying that the Bay State real estate market is no longer in a free-fall. Condo prices have risen 35 percent since January to $275,000, and condo sales have risen for five straight months, the Massachusetts Association of Realtors reported this week. June home sales rose 39 percent from May’s levels, while median prices rose 6 percent.
With widespread job losses and another possible wave of foreclosures on the horizon, few industry experts are declaring an outright recovery, and sales activity typically increases through the summer due to seasonal home-buying patterns.
But some see signs that the worst of the meltdown has passed.