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Report: Housing Market May Be Rebounding

Some housing analysts say there are signs the state may be on the way out of the housing slump.

WBUR's Abigail Beshkin reports there were positive signs in sales figures from last year.

Sales and prices of single-family homes fell by more than 11 percent last year, compared to 2007.

But the new figures from real estate tracking firm The Warren Group also show year-over-year sales rose through most of the fall. In December, they were up 4.7 percent.

Timothy Warren says if sales stay brisk, prices will likely follow. But the employment picture will be a big factor. "If the number of jobs declines significantly and the unemployment rate increases, this is going to spell some difficulty in the real estate market."

Condo sales in 2008 also fell 23 percent. Prices held through most of the year, but are beginning to fall. Warren says sellers appear to be realizing they have to lower their prices in this economy.

This program aired on January 27, 2009. The audio for this program is not available.

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