Mass. Housing Market Makes Huge Leap

By Anthony Silva, WBZ NewsRadio 1030 New England Business Editor

BOSTON (CBS) – The state’s residential real estate market is making a robust comeback with August home sales jumping 20% from the same month a year ago.

But we’re not breaking any records.  Tricia McCarthy, president of the Massachusetts Association of Realtors, tells me selling prices tend to be low, showing a year-over-year increase of less than 2%.

WBZ NewsRadio 1030’s Anthony Silva reports

McCarthy says appraisals are running low because of short sales and foreclosures.

The statewide median selling price is $310,000.

McCarthy says inventory is fragile.  She tells me the challenge now is finding more homes to sell.  She says more inventory is needed in all price ranges.

More from New England Business

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