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Housing Market Continues To Slow In Massachusetts

Posted by: Mike Lydon

26 April 2006 - 9:00am

An increase in supply and decrease in demand has slowed sales in one of America's most expensive single-family housing markets.

"Single-family home sales and prices in Massachusetts fell 1.5 percent in March, capping a first quarter in which sales slowed dramatically from the previous year, according to a housing report released yesterday.

'Inventory is at record highs, so buyers are taking their time,' said David Wluka, president of the Massachusetts Association of Realtors. "They can pick among several houses so they don't feel the pressure."

Full Story: Housing slowdown deepens in Mass.
Source: The Boston Globe, April 26, 2006
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The decision to abandon a property is a symptom of the loss of confidence. And while abandonment certainly affects confidence among surrounding homeowners, the most important question to answer is not "how do we deal with abandoned properties?" but "what is the most cost-effective way to restore market confidence, and how do abandoned properties fit into that picture?"
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