Industry News

Massachusetts real estate sales bounce back

Sales pull out of 5-month slump in March

Sales of detached single-family homes in Massachusetts reversed a five-month decline in March, climbing to their second-highest level on record for the month, the Massachusetts Association of Realtors reported this week. Across Massachusetts, sales of detached single-family homes increased 2 percent on an annualized basis, from 3,373 homes sold in March 2005 to 3,440 last month. Condominium sales improved 2.4 percent over the past year, from 1,691 units sold a year ago to a record 1,731 condos sold in March 2006.   The modest gain in detached single-family home sales activity marks the first time in six months that sales have risen on a year-to-year basis, while condo sales have improved over year-ago levels for the last 26 consecutive months. Among the factors behind the market rebound are mild winter weather, improved consumer confidence, and more realistic pricing on the part of sellers, all of which helped draw out large numbers of buyers out early in the year, according to M...