South Of Boston, Sales Stall
One realtor south of Boston is puzzled about April sales. "It was an unusually slow month for Single family homes in Plymouth County. April 2005 sales (number of homes) were off 33%. So far in 2005, there have been 1,264 homes sold in Plymouth County down from 1,466 year-to-date in 2004; off a more modest 14%."
"So why was April so slow? Interest rates dropped significantly over the past few months. The benchmark 10-Year Treasure Bill fell 25 basis (percentage) points in April, so it is beyond me. I would think that the snowy months would have built up demand so that, come April, things would improve."
The familiar price behavior is there too. "The average selling price in Plymouth Co. for April 2004 was about $387K compared to $411K in April 2005. So prices are up a big 6% from last year."