In Business : Mass home sales up in June, inventory down
Home sales in June were up more than 18 percent over June 2011, giving Massachusetts a full year of month-over-month increases in sales, the State House News service reported.
The Massachusetts Association of Realtors reported last week that the median sale price for single-family homes last month was flat, compared with June 2011. "While the housing market isn't fully recovered at this point; 12 straight months of year-over-year increases is significant and certainly positive news," association president Trisha McCarthy, broker at Keller Williams Realty in Newburyport, said in a statement. "Prices continue to bump along the bottom and could start to rise, especially if buyers remain active and fewer sellers enter the market."
The median selling price for single-family homes in June was $325,000, the same as in June 2011. The inventory of single-family homes on the market has decreased more than 17 percent since June 2011.