Mass. Housing Market Makes Huge Leap

By Anthony Silva, WBZ NewsRadio 1030 New England Business Editor
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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.

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