Home Sales Increase For First Time in Four Years
Real estate tracker The Warren Group reported a slight, 3 percent uptick in single family home sales in 2009 compared to a year earlier and credited a federal homebuyer tax credit with the possible stabilization of the housing market.
Single family home sales increased from 40,356 in 2008 to 41,583 in 2009. Meanwhile, home sales in December were up 17 percent compared to the same month in 2008.
It's the first time in four years that sales of single family homes increased year-over-year.
Single family home prices for the year declined 6.6 percent in 2009, falling below the $300,000 mark. That's despite prices posting a 10 percent gain in December compared to the month earlier.
The number of bank-owned home sales continued to decrease in 2009, from 5.2 percent in 2008 to 4.5 percent in 2009.
Condominium sales continued to struggle and dropped 7 percent in 2009 compared to the previous year.
Meanwhile, the Massachusetts Association of Realtors released figures showing that sales were up 4 percent for the year, including an 11 percent increase in sales in December 2009 compared to a year earlier. The association also reported a 7 percent decrease in prices for single-family homes.
The association's numbers only track sales that involved a Realtor.
WBJ Web Partners
Most Recent
Most Recent
0 Comments