Projo Biz Blog

The housing market in Massachusetts is showing signs of recovery, but is still struggling in the lingering recession.

There were 4,055 sales of single-family homes in Massachusetts in August, up 0.4 percent from August 2008, according to report released Tuesday by the Massachusetts Association of Realtors. Salles were down 9.1 percent from July.

The median price in August was $315,000, a decrease of 3.1 percent compared to August 2008.

"With both home sales and pending sales up in August and prices at their highest point so far in 2009, we have reason to feel confident that the market will continue to improve," said Gary Rogers, association president.

The Rhode Island Association of Realtors previously reported the median price in Rhode Island in August rose to $220,000, but is still off six percent from last year's depressed prices. Sales increased 29 percent in August from the comparable month a year ago, but were off three percent from July.

 Tags  Massachusetts Association of Realtors Rhode Island Association of Realtors

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