Lowell Deeds

The latest on real estate recordings and new technology from the Middlesex North Registry of Deeds in Lowell

June 4, 2007

Prices Down…Sales Up

by @ 8:37 am. Filed under Real Estate

The Boston Globe has a front-page article this morning addressing the housing slump in Massachusetts. In line with basic economics, the decrease in housing prices is beginning to increase buying. Still it seems the upswing is mainly occurring in and around Boston. According to the article areas close to Boston are generally showing improvement while north and west of the city still appear to be stagnant. The article quotes Terry Egan, Editor and Chief of Publications at the Warren Group…”It’s pretty clear the market hasn’t found a bottom yet…The pace of the sales has been pretty steady, but inventories are only slightly lower than a year ago”. Today there are more homes for sale than in the past three years. Of course, the lending market also has a major influence on prices and sale activity. The Globe explains that lenders are tightening the reins. Marginal borrowers who in the past were approved are now being rejected. This change is shrinking the number of potential buyers aw well.

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