Mass. Housing Market Makes Huge Leap
BOSTON (CBS) - The state's residential real estate market is making a robust comeback with August home sales jumping 20% from the same month a year ago.
But we're not breaking any records. Tricia McCarthy, president of the Massachusetts Association of Realtors, tells me selling prices tend to be low, showing a year-over-year increase of less than 2%.
WBZ NewsRadio 1030's Anthony Silva reports
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McCarthy says appraisals are running low because of short sales and foreclosures.
The statewide median selling price is $310,000.
McCarthy says inventory is fragile. She tells me the challenge now is finding more homes to sell. She says more inventory is needed in all price ranges.
