Mass. Housing Market Shows Signs Of Recovery

The Massachusetts housing market is showing signs of recovery with sales of single-family homes up about 12 percent in July compared to the same month last year.

It's the first time since December 2008 that home sales have increased year over year.

The Warren Group, a Boston-based publisher of real estate data, on Tuesday credited the 11.8 percent jump to low interest rates, reduced prices, first-time homebuyer tax credits and improved consumer confidence.

The Massachusetts Association of Realtors, which uses slightly different calculation methods, reported a 12.7 percent jump in sales of single-family homes.

The organization says the number of homes under agreement is also up, a sign that there is a good chance of continued increases in sales.