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Wednesday, August 23, 2006

Real estate slump

REGION

The housing market has taken a hit in recent months. The Globe reports today that sales of single-family homes decreased dramatically in July, by 25.3 percent, while house prices declined by 3.5 percent.

Some local real estate agents, however, are feeling optimistic that the slump in sales will turn around.

"I have found that the market has picked up in the past couple weeks," said Patrice O'Neil, owner of Century 21 in Wrentham. O'Neil said she had sold three houses recently, but that numbers are definitely not what they were last year.

"I have seen a spate of activity that leads me to believe that things are turning around," she said.

Ralph Costello, a real estate agent at Delta Real Estate in Medfield echoed O'Neil's sentiments. He said things could get better in the fall or next spring.

-- Erica Tochin

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