STILL A SHORTAGE:

State posts strong house, condo sales: Median prices climb, but some local agents see market softening (Kimberly Blanton, September 27, 2005, Boston Globe)

Massachusetts single-family home sales posted the second strongest August on record and condominium sales continued their relentless rise last month, the Massachusetts Association of Realtors reported yesterday.

In August, 5,482 single-family homes sold statewide, second only to the August 2001 record of 5,526. The median house price of $375,000 was nearly 5 percent higher than a year ago. [...]

Real estate brokers and analyst say Massachusetts has experienced less speculation than lower-priced housing markets such as Florida or Arizona. Yet, rising inventories of suburban Boston homes are concerning homeowners, amid growing evidence it has become more difficult to sell. The single-family market data also is creating confusion, because no clear trend has emerged: sales have been down three of the past five months and up two, while prices rise steadily.

Maggie Tomkiewicz, president of Massachusetts Association of Realtors, said the single-family market is holding up. She said there is currently 6 3/4 months of supply of single-family houses on the market, while 7 1/2 months to 8 1/2months is a balanced market.