Massachusetts home sales increase as prices decline - Metro US

Massachusetts home sales increase as prices decline

Kristen Dailey/Metro file

Massachusetts home sales jumped greatly in February, but monthly prices have gotten lower for the first time since 2014.

February saw a 31 percent increase in Massachusetts home sales with 2,868 single-family homes sold during the month, the Boston Globe reported.

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As the sales figures increased to the highest level for February since 2005, median home prices declined by about 4 percent to $299,000, the Globe added. The average price last February was $310,500.

Real estate information tracking firm the Warren Group, which released the data, said that condominiums show a similar situation with increased sales but decreased median prices, according to an Associated Press article reported by WBZ.

“I think there’s pent-up demand for housing, but people aren’t willing to spend beyond their personal income,” Timothy Warren, the chief executive of the Warren Group, was quoted by the Globe.

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Existing home sales declined nationally by 7.1 percent in February, according to a National Association of Realtors report referenced by the Globe. The national median housing price, unlike in Massachusetts, increased to $210,800 from $201,900 a year earlier.

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