In Business : Mass home sales up for seventh straight month
Home sale prices fell again in January as sales rose for the seventh straight month, according to the Massachusetts Association of Realtors. Sales in January were up 3.7 percent over January 2011.
The median selling price for a single-family home in Massachusetts last month was $265,000, a drop of 5 percent from January 2011. The association also reported that detached single-family homes stayed on the market an average of 128 days in January 2012 compared to an average of 120 days in January 2011.
"With each month of improved economic news, buyer confidence continues to build," association president Trisha McCarthy, broker at Keller Williams Realty in Newburyport, said in a statement Tuesday the State House News Service. "It is this confidence combined with the ongoing low interest rates and home affordability that will lead to a real estate market recovery."