Home sales edge up, but prices fall 6.2%

In a sign that the region’s housing market could be on the mend, sales of single-family homes in the Bay State rose modestly for the second consecutive month.

“The $8,000 tax credit, low mortgage rates, low home prices and pent-up demand are fueling the rise in sales,” said Alan Pasnik, data analyst for the Warren Group, the company that provided the data yesterday.

Last month, single-family home sales totaled 4,480, up from 4,390 in August 2008. The 2 percent gain follows an 11 percent year-over-year increase in July home sales.

Full story is available on Boston Herald

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