It was a mixed month of May for the Massachusetts housing market as sales of single-family homes fell while sale prices edged higher.
Home prices in the Boston area dropped in March, but they’re relatively stable compared to the rest of the country.
The Massachusetts housing market continued to struggle in April with sales and median prices both down from the same month last year, although the numbers were up when compared to March.
Home prices are continuing to deflate across most US cities, according to the latest Standard and Poor’s/Case-Shiller Index. Most of the cities now have the lowest home prices since the housing bust began in 2006 but four of the cities have reached 11-year lows.
The median price of single-family homes in Massachusetts continues to rise, even though the number of sales is falling.
Sales of single-family homes in Massachusetts rose to a four-year high in June as many buyers took advantage of tax credits that expired at the end of the month.