Mass. Real Estate Market Improves Slightly

BostonGlobe reports for the first time in seven months, prices for single-family homes in Massachusetts rose modestly, 1.1%, as the median price hit $275,000 in April, according to Boston real estate company Warren Group. The number of single-family homes sold in April rose almost 22 percent over April 2011, marking the third consecutive month of increases. Statewide, for the first four months of 2012 sales of single-family homes rose 18 percent over the same period last year. Prices fell 20 percent 2005 to 2009, and Eric Belsky of Harvard’s Joint Center for Housing Studies, says this is the first time since the home buyers tax credits ended that prices are rising on their own. One real estate broker who focuses on downtown Boston says total sales this year have already surpassed all of 2011. has learned Michael Goodman, asst. prof. of public policy at the Univ. of Massachusetts, noting the western part of the state is still struggling, says “We are going to really need to see some sustained growth in sales volumes and median prices to declare the downturn is over.”

(Photo credit: MortgageBroker)

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