Home sales slow dramatically in April
Sales of homes and condominiums plunged in April, the heart of the spring selling season.
In Massachusetts, 4,142 single-family homes sold last month, a 16.5 percent drop from the same month last year.fewer homes than the 4,961 sold in April 2005, The Warren Group, a Boston real estate data firm, reported today.
While the condo market has remained strong, despite rising in interest rates and cooling home sales, that market turned down dramatically last month as well. Sales of 2,420 units statewide last month were down 15.3 percent from April 2005.
Single-family home sales in April are the lowest for that month since 1995, The Warren Group said.
While sales were down sharply, prices remained stable. The median price for a single-family home held steady at $335,000, while condos fell 0.4 percent, to $272,340.
"The pace of sales has slowed," Timothy Warren, The Warren Group's chief executive, said in a prepared statement. "That remarkable bull market is coming to an end," he said.
(By Kimberly Blanton, Globe Staff)
