From today’s Boston Globe:
Single-family home sales in Massachusetts increased for the third consecutive month in September, and the median price for homes sold dropped 1.4 percent to $285,000 from $289,000 from September 2008, the smallest drop in year-over-year monthly median home prices in about two years, the Warren Group said in a report on local residential real estate activity.
The rise in sales was partly attributed to a temporary $8,000 tax credit for first time home buyers that the federal government implemented earlier this year, the Warren Group and the Massachusetts Association of Realtors said. The tax credit, part of a plan to revive the sluggish housing market, is limited to sales finalized by Nov. 30, a recent Globe story noted.
Read the full article.
Based on the Warren Group report, do you think we now have evidence that the local housing market has bottomed out? Or do you think we have still a way to go?