New Home Sales Take First Dip Since July 09

As many had speculated, the number of home sales in Massachusetts decreased as President Obama’s tax credit for first time home buyers expired, according to Boston Globe. Compared to homes sold in April, the numbers in May slipped 3 percent while condo sales fell 6 percent, according to data released by the Massachusetts Association of Realtors. May was the first month since July of 2009 that the number of pending home sales saw a dip in numbers, which is in direct correlation with the tax credit’s deadline, which boosted new home sales and home prices since its implementation. To continue reading the article, click here.