Reports: Mass. Home Sales Up Sharply In June
BOSTON (AP) — The Massachusetts housing market posted strong sales gains in June while prices remained largely unchanged from a year ago, according to two new reports on Tuesday.
The Warren Group, an independent publisher of real estate data, said sales of single-family homes hit a two-year high last month and were up nearly 26 percent from June 2011.
The Massachusetts Association of Realtors reported that sales increased 18.5 percent over the same month a year ago, marking the 12th consecutive month of year-over-year gains.
Even with the uptick in sales activity, prices for single-family homes remained about the same as a year ago. The Warren Group pegged the median selling price in June at $322,000, while the Realtors association put the median price at $325,000.
The two organizations use slightly different methods for calculating home sales.
“It’s common to see strong sales volume once the spring selling market begins, but these numbers nearly parallel sales from two years ago when a government tax credit was being given to buyers,” said Timothy Warren Jr., CEO of the Warren Group.
For the second quarter of 2012, single-family home sales were up 28 percent from the same three-month period a year earlier.
“While the housing market isn’t fully recovered at this point, 12 straight months of year-over-year increases is significant and certainly positive news,” said Trisha McCarthy, president of the Massachusetts Association of Realtors.
“Prices continue to bump along the bottom and could start to rise, especially if buyers remain active and fewer sellers enter the market,” she added.
The association also reported that the unsold inventory of single-family homes in Massachusetts had dropped by 17.4 percent between June 2011 and June 2012.
Both reports on Tuesday also pointed to strong gains for the condominium market, with prices moving higher.
The Warren Group reported condo sales up nearly 29 percent in June from the same month a year ago with the median selling price of $313,000 up by more than 6 percent.
Massachusetts Association of Realtors reported condo sales up more than 16 percent last month with the median sales price more than 4 percent higher than a year ago.
Copyright 2012 The Associated Press.