Home Sales Lag Last Year's Pace
The number of single-family homes put under agreement increased for the third straight month in April, according to the Massachusetts Association of Realtors.
There were 4,230 single-family homes put under agreement in April, which is up from 4,023 in March, but down from more than 5,500 in April 2010.
The decrease is attributed to the fact that the first-time homebuyer tax credit is no longer available.
Condominium sales under agreement during the month were down from 2,292 last year to 1,676 this year, which was an increase of 1.6 percent from the month earlier.
Meanwhile, nationwide construction was up about 1.4 percent in March compared to February, according to the Associated General Contractors of America. Spending, which totaled $769 billion, was up 6.7 percent compared to last year.
The AGC noted a 6.9-percent increase in home improvement construction spending while there was just a 2.6-percent increase in private residential spending.
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