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Home Sales Hit 15-Year Low

This article is more than 11 years old.

New figures show the housing market continues its downward spiral in Massachusetts.

The Massachusetts Association of Realtors says single-family home sales were down 15 percent in June compared to a year ago.

As WBUR's Abigail Beshkin has more, figures from a private firm show an even steeper decline this year.

BESHKIN: During the first six months of the year, sales of single family homes fell by 19 percent.

The figures by real estate tracking firm the Warren Group show median prices fell by more than 9 percent to $315,000.

Condo sales fell by 30 percent but prices dipped only slightly. The Warren Group's Tim Warren says it appears many condo owners can't afford to compromise on price.

WARREN: Often times condo owners are using the condo as their first home and they probably haven't been in the property as long as a single family home owner might have been. They're probably much closer to their outstanding loan balance.

BESHKIN: Warren says the silver lining is that there are some opportunities for buyers.

This program aired on July 28, 2008. The audio for this program is not available.

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