November 20, 2006 1:50 PM

Time to buy?
Posted by Douglas Eisenhartat 1:50 PM

If you already own a house or a condominium in Massachusetts, maybe it's not such great news. But if you don't and you're looking to buy, them just maybe it is.

Massachusetts housing sales and median prices are off once again this year:

Statewide, the number of third-quarter sales for detached single-family homes fell 23.4 percent, compared to a year ago, and Greater Boston sales decreased 19.5 percent.

The statewide median selling price dropped 4.9 percent to $352,000, compared with 1.9 percent dip to $505,000 for Greater Boston.

The market correction, as it is being called, is welcome news not just to home buyers but to the region's employers, as well, who have faced difficulty attracting new hires to the area due to the high cost of living, led primarily by notoriously high housing costs.

Read the "Daily Business Update" from the Globe on Boston.com.