Massachusetts homes sales spike downward in February
Blame it on rising mortgage rates — which have climbed a full percentage point year to date — or on the “Blizzard of ’22,” which dropped almost 2 feet of snow on Boston at the end of January, but February was a slow month for home sales.
There were 2,593 single-family home sales across Massachusetts in February, according to The Warren Group, a real estate analytics firm. That marked a 14.7 percent drop from the 3,040 sales logged in February 2021. Last winter was a particularly active market, though; compared with February 2020, the sales volume last month was down just 3.3 percent.
The sales of single-family homes in Massachusetts increased 33 percent last month, to 2,350, while condo sales were also up by 18 percent, to 892, according to the Warren Group.
The pricing picture is a little more mixed. Median single-family home prices fell last month by 3 percent, while condo prices increased by 4.7 percent.
But the key seems to be that homes are moving on the market, suggesting recovery within the housing industry, though it’s not a full and robust recovery. Tim Warren, head of Warren Group, notes that sales have now increased in seven out of the last eight months in Massachusetts.
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