July 2010: Mass Home Sales Plunge 26%

“For the first time this year, sales of Massachusetts single-family homes declined in July, posting a 26 percent decrease from July 2009, according to the latest report by The Warren Group, publisher of Banker & Tradesman.

Single-family home sales dropped 26.15 percent in July, reversing a trend of 12 straight months of increases. A total of 3,668 single-family homes sold in July, down from 4,967 a year earlier. This is the fewest number of sales in the month of July since 1990. In the first five months prior to July, sales volume had increased by 10 percent or more.

Condominium sales also dropped in July, decreasing 32 percent from a year earlier. A total of 1,484 condos sold in July, down from 2,185 a year ago. Year-to-date condo sales were up 16 percent, increasing to 11,210 from 9,651 during the same period last year.”

For more information, you may read the complete article from Bankers & Tradesman.

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