Housing Sales in the Basement

The Bay State's housing sales have moved into the basement. According to new figures from the Massachusetts Association of Realtors, the number of single-family homes sold dropped by 21 percent in January. That is the biggest slump in almost 11 years.

And according to economists at UMass Boston, prices are also dropping. The UMass study projects a five percent fall during each of the first two quarters of this year. Morning Edition speaks with Dr. Alan Clayton-Matthews, professor of public policy at UMass.