Massachusetts single-family home sales up in October
BOSTON (AP) — The number of single-family homes sold in Massachusetts last month shot up when compared to October 2014.
The Boston-based Warren Group announced Tuesday that sales increased more than 16 percent in October.
The Waltham-based Massachusetts Association of Realtors reported a more modest 8 percent increase in year-over-year sales.
The organizations use different methods in making their calculations.
Warren Group CEO Timothy Warren Jr. calls it a red-hot market unprecedented since 1987. He says sales were slow in the first three months of the year because of the harsh winter, so homebuyers have been making up for lost time.
The Warren Group reported a 2 percent increase in median prices while the Realtors reported a 3 percent increase.
The Realtors say lots of buyers and low inventory are driving up prices.