Massachusetts Home Sales Worse Than US

Although new home constructions may be one the rise, sales for existing homes dropped in July 27.2%; the lowest level since the National Association of Realtors started its tally in 1999. The drop does not come as a surprise; as economists had predicted this drop to coincide with the expiration of the Obama home-buyer tax credit.

Locally, the market isn’t doing any better. In fact, sales of homes in Massachusetts plummeted 28% in July, according to the Massachusetts Association of Realtors. This is the biggest drop year-over-year since March 2008, and the first drop in sales in the past 12 months.

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Read more about the local housing market by clicking here.

Read more about the national housing market by clicking here.