Massachusetts housing market cools

The Boston Globe has an article on the cooler housing market.

The Massachusetts real estate market is running hot and cold.


The state's condominium market continued its blistering, double-digit pace of sales increases last month amid surging demand for luxury, low-maintenance housing. Sales of 2,395 condos in July represented a 12.4 percent jump over July 2004, according to yesterday's monthly report by the Massachusetts Association of Realtors.

Yet sales of single-family homes slipped 7.4 percent, to 5,328, the third drop in sales from the previous year in the last four months.

The fact that Massachusetts is one of the most overpriced markets means this could be the beginning of a trend.