Mixed News For Mass. Home Sales
There's some mixed news for the Massachusetts housing market. The latest figures from realty tracking firm The Warren Group shows home sales last month rose 13 percent versus the same time in 2010.
But Vincent Valvo, the editor-in-chief of Banker and Tradesman, said that is coupled with an 8 percent decline in home prices.
"What we're seeing is of course sort of classic supply and demand. There's an awful lot of supply that's out there. You've got buyers that know they're in the driver's seat," Valvo said.
Valvo said he expects sales to remain slightly higher than last year, but does not expect a significant recovery until after 2012.
This program aired on December 21, 2011. The audio for this program is not available.