Reports Show Mixed Results In Mass. Housing Market

The latest numbers are showing mixed results for the Massachusetts housing market.

The Massachusetts Association of Realtors says that pending home sales dropped by 10% in August compared with last year.

Many analysts, however, believe that a federal tax credit inflated last year's sales. The president of the Massachusetts Association of Realtors, Kevin Sears, says that makes the August drop less worrying.

"Last year in the third quarter, the tax credit was really beginning to take off," Sears said. "This summer we don't have the tax credit so we're not comparing apples to apples."

In fact, Sears says, August housing sales posted a small gain from July's numbers.

"Folks are getting back into the market and taking advantage of the inventory we have and the record-low interest rates," Sears said.