Mass. home prices moderate amid growing glut of properties

[midnight armadillo]

Mass. home prices moderate amid growing glut of properties

By Mark Jewell, AP Business Writer | November 15, 2005

BOSTON --Seven years of rapid growth in the state's housing market appears to be coming to an end as a sudden glut of homes tilted the market toward buyers during the third quarter.

Median prices of single-family homes and condominiums each rose by less than 6 percent during the three months that ended Sept. 30 -- the slowest pace since the fourth quarter of 1998, the Massachusetts Association of Realtors said Tuesday.

By contrast, the state saw double-digit percentage increases in single-family home prices during all but one month between April 2004 and March 2005. And federal data show that Massachusetts saw by the far steepest rise in housing prices from 1980 to 2004.

http://www.boston.com/realestate/articles/2005/11/15/mass_home_prices_moderate_amid_growing_glut_of_properties?mode=PF

[GrumpyGreg]

1. And it's about time---median in my town $700,000.00--ridiculous.

Yes,I'm in Massachusetts.

[Zynx]

2. The housing boom will soon come to an end.

Prices are simply shrinking the number of buyers so much that it is inevitable that the market will correct in the bubbly states.

[jackster]

3. and if Mass is LOSING population

why are we building on every square inch of possible land??????

and often these are those luxury condos!