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Mass. Home Sales Down, Median Prices Up

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BOSTON (AP) — Sales of single-family homes in Massachusetts fell in May when compared to the same month a year ago, but median prices continue to soar.

The Massachusetts Association of Realtors on Tuesday reported a nearly 10 percent drop in sales when compared to May 2013, but a 7 percent increase in the median price to nearly $348,000.

The Warren Group, a publisher of business data, reported a 7 percent year-over-year decrease in sales but a jump in median prices of almost 5 percent to $340,000.

The organizations us different figures in their calculations.

Realtors’ President Peter Ruffini says rising prices are being caused by qualified buyers taking advantage of low interest rates to buy a limited supply of homes.

Warren Group CEO Timothy Warren Jr. says rising prices are a sign of recovery.

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WGGB encourages readers to share their thoughts and engage in healthy dialogue about the issues. Comments containing personal attacks, profanity, offensive language or advertising will be removed. Please use the report comment function for any posts you feel should be reviewed. Thank you.
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