Posted on 04/26/2006 10:32:45 AM PDT by george76
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...
''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."
The slowdown in Massachusetts' housing market ran counter to a surprising pick-up in March in nationwide sales of homes, condominiums, and townhouses.
Analysts had predicted that strong February sales...
The housing market in Massachusetts ''simply isn't as strong as it is in other states," ...
a combination of population losses -- the US Census Bureau estimates the state lost more than 42,000 residents a year between 2001 and 2004 -- and a sluggish economy combined to curtail sales.
''People are leaving for other states, and there's less demand for housing than there is in the rest of the country,"...
(Excerpt) Read more at boston.com ...
People are leaving for other states
Evidence for this?? Mass. is clearly losing population. Many folks say they are leaving because of taxes and housing costs. They leave, and demand for housing decreases so housing costs decrease. We call this "the marketplace".
Now, if the state would only do something about the taxes, we might stop losing population. But this talk about a "sluggish economy" is just an attempt at misdirection.
"The slowdown in Massachusetts' housing market ran counter to a surprising pick-up in March in nationwide sales of homes..."
Mass has rising taxes and is losing population.
Soon only the DUmmies will be left.
They will lose another Congressional Seat and lose another vote for President...soon.
You don't demand that people embrace the teaching of the homo-perve lifestyle to kindergartners and NOT suffer an exodus of the most normal among them leaving for places that think kids ought to be well, kids. Between social engineering BS like that and confiscatory tax policies, it's amazing there are any people left in states like these. No wonder the Soviets had to build a wall to imprison their population.
I'm just glad to see a housing topic started by somebody OTHER than ex-Texan...
Looks like folks are heading South in Record #'s. Gee, I wonder why......?
I Agree. NY is also loosing population. People up in the north are leave beause of the Taxes and house prices. I think the cold harsh winters are also another ffactor, but taxes and house prices are the primary reason.
''Inventory is at record highs, so buyers are taking their time,"
Umm... Maybe buyers are waiting to see how low prices will fall.
Why buy a house today, for $600,000, if you can wait until 2007 and buy the same house for $525,000?
What - Nobody wants to live in socialism? THEN WHY DO THEY KEEP RE-ELECTING THE LIKES OF KENNEDY AND KERRY?
NH is the only state in New England that grew in the 1990's and the only one expected to grow in this decade. It is not the weather that is driving people out of MA as many are moving North as I did 10 years ago from MA. The quality of life is better and the tax picture is the opposite of MA. Heck, even car insurance is half what it is in MA. It is only about 35 miles from downtown Boston to the NH border. It is relatively easy to go to Boston from southern NH for a Red Sox game, dinner in the North End, etc. Then you can go home and not deal with the crime, the pollution, the crowds....
The Mass exodus...
You are correct.
Why the voters re-elect the DUmmie fools is beyond me.
If I lived there, I would leave.
Lib states are in big trouble. I just don't get it. (sarc)
"It is relatively easy to go to Boston from southern NH for a Red Sox game, dinner in the North End, etc. Then you can go home and not deal with the crime, the pollution, the crowds"
Well it is now with the new buried highway. It used to
be a beotch to get off the Fitz and into the Callahan
Tunnel to get to the airport. Its still bad trying to get to
Chinatown. Property taxes in our town (Amherst NH) were the highest I've ever experienced.
I left MA in 1977 for VA and never regretted it for one moment.
Whenever I return home I am astonished by the rudeness of people, the stupidity of the politicians and voters, and the remarkable cost of living.
It is a dreadful place to live. And it's as cold as a bad memory. I do not miss those winters.
New York State is losing even more people.
NY will lose another Congressional Seat and lose another vote for President, soon.
On a percentage basis, Mass may be losing more...but NY is losing more bodies.
The weather is bad, but there are many more reasons to leave than just bad weather.
''People are leaving for other states, and there's less demand for housing than there is in the rest of the country,"...
The land of Kennedy, Kerry and that crazy gay predator Barnie plus high taxes is driving people with a brain away.
Soon Kennedy and his pet pit bull, Kerry, will be telling America about the sad state of Mass re real estate. Then they will push for a National Home Buying Insurance for idiots who want to live in Mass.
Notice how the Blue Cities, counties and some blue states are really starting to lose population. First they abort their future. Then they dumb them down in school while pushing the Gay life style. Then they blame Bush when these dumbed down liberals can't find work.
With their high tax rates and the rest of the list...who would want to own any real estate or run a business is such a place ?
http://www.freerepublic.com/focus/f-news/1621786/posts
Stunning 13.8% increase in new home sales
Market Watch.com ^ | 26 April 2006 | Rex Nutting
Posted on 04/26/2006 7:25:24 AM PDT by Grampa Dave
ECONOMIC REPORT Stunning 13.8% increase in new home sales
Median prices down year-over-year first time since Dec. 2003 By Rex Nutting, MarketWatch
WASHINGTON (MarketWatch) -- New home sales unexpectedly increased by 13.8% in March to a seasonally adjusted annual rate of 1.213 million, the highest level of the year, the Commerce Department estimated Wednesday. The increase more than reversed the 10.9% decline in sales in February. It was far stronger than the mild increase to 1.10 million annualized that was expected by economists surveyed by MarketWatch. See Economic Calendar.
Combined with the small increase reported in existing home sales on Tuesday, the report shows the housing market was much stronger in March than anyone had reason to believe. See earlier story. Other housing market indicators, including mortgage applications, housing starts and builders' sentiment, are pointing to a softer housing market.
The strength in home sales, if it persists, could keep the economy growing faster than the Federal Reserve wants and could lead to higher interest rates than now expected. See our complete coverage of the Fed. New home sales are down 8.2% year-to-date. Read the full report.
The government cautions, however, that its housing data are subject to large sampling and other statistical errors. The margin of error is so large, in fact, that the government cannot say with confidence that sales rose at all in March.
It can take up to six months for a trend in sales to emerge. New home sales have averaged 1.22 million per month over the past six months, down from 1.23 million in February and 1.30 million in November.
The inventory of unsold homes on the market increased 2.8% to 550,000, representing a 5.5-month supply at the March sales pace, down from 6.3 months in February. Median home prices fell 2.2% year-over-year to $224,200. It's the first time prices had fallen year-over-year since December 2003.
In March, sales rose 35.7% in the West, reversing the 30.3% drop in February. Sales increased 6.9% in the South, 10.9% in the Midwest and 4.7% in the Northeast.
In a separate report, the Commerce Department said orders for durable goods increased 6.1% in March, including a 71% gain in aircraft orders. Bookings were solid across most industries. See full story.
Rex Nutting is Washington bureau chief of MarketWatch.
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