Home Sales Continue Climb
Home sales in Massachusetts continued their recovery in July, two groups who track the market said today.
The Warren Group said sales volume rose nearly 27 percent to 4,979 compared to July 2011, marking the strongest July since 2005. It said home sales are up 25 percent so far this year.
Meanwhile, the Massachusetts Association of Realtors (MAR) said sales were up 22.7 percent, marking their 13th consecutive month of increases.
The condo market also saw improvement in July, showing a 34-percent increase in sales compared to last year, the Warren Group said. MAR said condo sales were up 23.1 percent.
Cory S. Hopkins, editorial director of the Warren Group, said the increase in sales volume is a good sign, but noted that they are being compared to “a very depressed market last summer, so it’s important to step back and realign expectations.”
MAR found that the inventory of homes on the market has fallen nearly 20 percent year over year, translating to a 7.7-month supply. Homes were staying on the market an average of 98 days before selling, a decrease of one day from a year ago.
Median prices for homes so far this year are down 1.7 percent, the Warren Group said.
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Mass. Home Sales Continue Rise
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