Mass. Home Sales Up, Prices Down

The latest home sales figures in Massachusetts show prices are down sharply from a year ago, but sales are up.

Numbers from the Massachusetts Association of Realtors and the real estate tracking firm the Warren Group say the median price for a single family home has fallen to below $300,000 for the first time since 2003.

But, both say sales were up between five to nine percent in September from a year ago.

Vincent Valvo of the Warren Group says these were contradictory results.
"You can sell a house if you price it low enough that's what sept is telling us. houses will sell but they've gotta still come down in asking prices if they wanna move in this kind of a market."

Valvo says economic woes and a looming recession are going to continue to exert pressure on home prices and the number of sales.