Faint glimmers of a real estate rebound?
Home sales are up and prices are down across Massachusetts, new reports out today show.
Sales rose more than 5 percent in October, to 3,189, while prices fell 7 percent, to a median price of $270,000, from October, 2010, reports The Warren Group, publisher of Banker & Tradesman. Meanwhile, the Massachusetts Association of Realtors released similiar stats showing a 2.7 percent bump up in sales and a 5 percent drop in prices.
OK, falling prices and rises sales are the basic ingredients an eventual comeback in home sales. But we will have to see much more of both before any recovery really kicks in.
Homes sales may be up a bit form last year's anemic levels, but the past two Octobers have seen the fewest homes sold since the very tough recession back in 1990, according to The Warren Group.
