Pending home sales in Massachusetts have fallen for the third month in a row.
The latest numbers from the Massachusetts Association of Realtors show the number of single-family homes that went under agreement in July fell 18 percent compared to the same month last year. Condos dropped 28 percent.
"Everybody’s kind of just not really focused on buying right now," said Connie LeDuc of Authentic Home Buyer Brokers in Southborough.
Some in the industry worry the housing market has lost the strong momentum it had earlier in the year when sales were lifted by a federal tax credit.
But the state trade group for real estate agents, the Massachusetts Association of Realtors, expects activity to rebound.
"We're really seeing a leveling off and a stabilization of the housing market," said MAR President Kevin Sears. "I think the fact that we have good inventory and record-low interest rates is incentive to keep people in the housing market."
This program aired on August 3, 2010. The audio for this program is not available.