Market unease: Mass.Home prices fall 3.5%

The Boston Globe reports:

Home prices in Massachusetts fell 3.5 percent in July, the largest decline in 13 years, as the slowdown in the real estate market finally led sellers to cut their prices.

Sales of single-family homes began dropping last fall, but prices were slow to respond to the weakening demand.

Last month, though, the median sales price for a house fell to $361,750, from $375,000 a year earlier.

T-Bills did significantly better over the same people.