Bay State Single-Family and Condo Sales Fall Again in May, the Warren Group Reports.BOSTON -- After double-digit drop-offs in April, single-family sales fall 5.1 percent, condo sales by 7.8 percent; median condo prices still holding up Sales of Massachusetts single-family homes and condominiums fell again in May compared to the prior-year period, but not as steeply as they did from April 2005 to April 2006, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a report released today by The Warren Group of Boston. Single-family home sales fell 5.1 percent, with 5,208 units moving during May 2006 compared to 5,488 in May 2005. The median sale price fell 4.0 percent to $331,000. Condo sales fell 7.75 percent in May, with unit sales unit sales Sales measured in terms of physical units rather than dollars. Unit sales data are often used by financial analysts when evaluating the health of a company. dropping to 3,037 from 3,292 the previous year. The median sale price rose 1.8 percent to $285,000. The May figures follow much steeper drop-offs in April. Single-family home sales plummeted by 16.5 percent in April from the prior year, and condo sales, which had been rising in previous months, fell almost as dramatically - by 15.3 percent. The data was assembled by The Warren Group, the publisher of Banker & Tradesman and the premier provider of real estate and financial data throughout New England New England, name applied to the region comprising six states of the NE United States—Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut. The region is thought to have been so named by Capt. . The Warren Group's data includes all sales logged by registries of deeds deed n. 1. Something that is carried out; an act or action. 2. A usually praiseworthy act; a feat or exploit. 3. Action or performance in general: Deeds, not words, matter most. throughout Massachusetts. Longtime long·time adj. Having existed or persisted for a long time: a longtime friend; a longtime resident of Detroit. longtime Adjective economist Frederick Breimyer said the May figures fall in line with his market observations. "Economic conditions in the Commonwealth remain a concern with no growth in the state's population," said Breimyer, the past president of the New England Economic Partnership. "This suggests continuing difficulties in local housing markets." Timothy Warren Jr., CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of The Warren Group, said he expects the market to continue to slow down the next few months and stabilize stabilize See peg. by the end of the year. "The May figures provide more evidence that the Massachusetts housing market is coming in for a soft landing," Warren said. "After a 10-year run-up, the market is entering a period I like to call 'the new normal' - with prices stabilizing stabilizing, v to hold a limb motionless in order to ground its energy; a standard isometric resistance technique, it releases tension and lengthens muscle fibers. and sales proceeding at a more measured pace." About The Warren Group The Warren Group, based in Boston, is the publisher of Banker & Tradesman, The Commercial Record and a series of association publications. As the premier provider of real estate data in New England, The Warren Group offers a range of real estate products and services for professionals and consumers searching for real estate and financial information. For more information about The Warren Group, please visit www.thewarrengroup.com or call 617-428-5100. |
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