Mass. Home Sales Up More Than 20 Percent Last Month

BOSTON (AP) — Sales of single-family homes in Massachusetts jumped by more than 20 percent in October when compared to the same month last year, more evidence of a market recovery.

The Massachusetts Association of Realtors reports Tuesday that it was the 16th straight month that closed home sales were up compared to the same month the previous year.

The Realtors group also reported a 4.4 percent increase in the median selling price of single-family homes, the biggest monthly increase since June 2010, the last month of the federal home buyer tax credit.

The Warren Group, which uses slightly different numbers in its calculations, reported that median prices were essentially unchanged.

Chief Executive Timothy Warren said homes sales for the first 10 months of 2012 have already surpassed sales for all of 2011.

Copyright 2012 The Associated Press.

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