Record prices, tumbling sales in Mass. home and condo market

BOSTON — Home sales in Massachusetts plunged in January as sale prices soared higher.

"A rising single-family sale price coupled with falling sales was a common trend we saw throughout 2018, so I'm not surprised it carried over into January 2019," Tim Warren, CEO of The Warren Group, said in a statement accompanying the release of the new numbers Wednesday morning.

Total home and condo sales fell 10 percent last month, compared to January 2018, and the median single-family sale price increased 4.9 percent over the year to $367,000, setting a new record for January.


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The sales totals were the lowest since January 2015, and Warren said "you can expect to see fewer sales" because the inventory of available properties is "hovering near a historical low."

"Low supply is likely to push prices higher still," Warren said.

Housing production legislation died without a vote in the House or Senate last session, but Gov. Charlie Baker and many lawmakers are hoping to advance a bill sometime during the 2019-2020 session.

Baker plans to introduce his new housing bill Wednesday afternoon. There's also an effort afoot this session, backed by those seeking more progressive tax policies, to slap new taxes on the sales of luxury homes.

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