May 27, 2008
Home Prices Drop In April
The Warren Group reports that the year-over-year drop in home prices for April was the steepest since the company began recording prices in 1987.
The median price of a single-family home fell 12 percent in April, to $305,000, The Warren Group reported. The Massachusetts Association of Realtors reported a smaller drop of 8.7 percent, to $314,900. MAR also said prices held steady from March to April. Both organizations reported that more homes sold in April than in any of the previous three months, but sales were still down significantly from last year. MAR reported a year-over-year decline of 15.8 percent, while The Warren Group put the drop at 12 percent.
The Warren Group reported a much smaller drop in condominium prices, 1.8 percent, to $270,000, while MAR reported a slight increase of 0.1 percent to $275,000.
The median price of a single-family home fell 12 percent in April, to $305,000, The Warren Group reported. The Massachusetts Association of Realtors reported a smaller drop of 8.7 percent, to $314,900. MAR also said prices held steady from March to April. Both organizations reported that more homes sold in April than in any of the previous three months, but sales were still down significantly from last year. MAR reported a year-over-year decline of 15.8 percent, while The Warren Group put the drop at 12 percent.
The Warren Group reported a much smaller drop in condominium prices, 1.8 percent, to $270,000, while MAR reported a slight increase of 0.1 percent to $275,000.
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