(Source: The Boston Globe)
Single-family home sales in Massachusetts fell to their lowest level for the month of April since 1990, and the median price for homes sold in April dropped 13.1 percent to $265,000 from $305,000 last year, according to a report issued today by the Warren Group.
“Median home prices have been falling by double-digit percentages for eight consecutive months, but April delivered the smallest price decline in that eight-month period,” said the Warren Group, a Boston firm that tracks real estate data and publishes Banker & Tradesman.
On a volume basis, the number of homes sold last month retreated 14.5 percent to 2,731 from 3,196 in April 2008, the firm said.
“April turned out to be a disappointing month for sales volume of both single-family homes and condos,” Timothy M. Warren, Jr., chief executive of the Warren Group, said in a statement. “We were expecting that the combination of low mortgage interest rates, a first-time homebuyer tax credit, and low home prices would stimulate sales. Consumers are dealing with job losses, pay cuts, and heavy debt, and it appears that it is affecting their home-buying decisions.”
Read Chris Reidy’s full article “Mass. housing sales were “disappointing” in April” from The Boston Globe (May 26, 2009).