Home Sales Show Signs Of Life
For the first time this year, home sales on a year-to-year basis rose in July, according to multiple real estate tracking reports.
The Massachusetts Association of Realtors recorded a 14 percent rise in year-over-year sales in July, with 3,890 single-family homes sold, compared to 3,411 last year.
Homes sales were down compared to the month earlier, however, with sales dropping 14 percent from June.
Home prices continued to fall as well, dropping 3.1 percent compared to last year's median price.
The Warren Group, the Boston-based real estate tracking firm, also noted an uptick in sales in July, but its estimates were slightly more tempered.
The firm recorded a 7 percent increase in sales. Officials with the Warren Group said July 2010 was a "very rough month" for the real estate sector as the first-time homebuyer tax credit had recently expired during this time last year.
Year-to-date sales are down 16 percent compared to last year, The Warren Group noted.
The real estate trend was also reflected nationally by the U.S. Census, which reported a 6.8 percent increase in single-family home sales nationwide in July compared to last year.
While MAR recorded a 13 percent year-over-year increase in condominium sales in the Bay State, the Warren Group only found a 2 percent rise.
MAR only uses sales figures from members of its organization.
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