Mass. Housing Prices On The Decline

The Massachusetts housing market continued to struggle in April with sales and median prices both down from the same month last year, although the numbers were up when compared to March.

The Warren Group, a Boston-based publisher of real estate data, on Tuesday reported a 28 percent drop in sales of single family homes compared to April 2010 with a 4 percent drop in median sales price.

The Massachusetts Association of Realtors said there was a 20 percent drop in sales year over year, and a more than 8 percent decrease in the median price.

The organizations use slightly different numbers in their calculations.

The Warren Group's Vince Valvo said pending sales were also down in April.

"So the buyers are not in the market, that means that if they're not making offers today, they're not going to close in the next couple of months," Valvo said.

Home sales were up from March, as is typical in the spring market.

Both organizations reported an increase in the median price of condominiums year over year.

With reporting from The Associated Press and the WBUR Newsroom

This program aired on May 24, 2011. The audio for this program is not available.


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