Reports Indicate MA Real Estate Market Is Rebounding

Two new reports suggest the long downturn in the real estate market in Massachusetts may be over.  WAMC’s Paul Tuthill reports…

Home sales rose by more than 19 percent in March compared to a year ago, according to a report issued Tuesday by the Warren Group, a Boston company that tracks real estate data.  With a total of 3,205 homes sold across the state, it was the best March since 2007.  The spring before the recession hit, home values sunk and unemployment rose. 

The Massachusetts Association of Realtors also reported a roughly 19 percent jump in the sale of single family homes in March compared to March 2011.  The trade association also reported that home prices continue to fall. The median price was down 3.3 percent to $260,000.

Paul Tuthill, WAMC News.