Mass. Home Sales Post Another Drop
Sales of single-family homes in Massachusetts were way down in March when compared to the same month last year, an indication that the state's housing market continues to struggle.
The Massachusetts Association of Realtors on Thursday reported a more than 22 percent decrease in sales of single-family homes compared to March 2010, while the Warren Group reported a 14 percent drop.
The president of the Realtors says the difference is that the federal homebuyers' tax credit available last March was not available this year.
But the Warren Group's Vincent Valvo says the credit didn't really jumpstart the market like it was supposed to.
"Because if you give people $8,000 to buy a house, it turns out they'll do it, and once you stop giving them $8,000, they stop making that decision," Valvo said.
The organizations use different numbers in their calculations.
An increase in sales when compared to February is typical.
Both organizations reported a slight drop in the median prices of single-family homes when compared to the year-ago month, the fourth consecutive month of lower median prices.
With reporting from The Associated Press and the WBUR Newsroom
This program aired on April 28, 2011. The audio for this program is not available.