The Massachusetts Association of Realtors says pending single-family home sales dropped by 10 percent in August, compared with last year.
But the group’s president, Kevin Sears, says a federal tax credit inflated last year’s sales, making that 10 percent drop less worrisome.
Excerpt from the Massachusetts Assoc. of Realtors:
The number of condos put under agreement in August was down 19 percent compared to August 2009 (1,770 units in 2009 to 1,435 units in 2010). On a month-to-month basis, condos put under agreement were down 2.1 percent from 1,466 units in July. This is the first single-digit decrease after three straight month-to-month double digit decreases.
Read more from the Massachusetts Assoc of Realtors
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