Sales of homes in Mass. falls in February

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WALTHAM, Mass. (AP) - Sales of single-family homes fell by nearly 6 percent last month when compared to the same month a year ago, but median prices jumped by more than 7 percent.

The Massachusetts Association of Realtors reported Tuesday that he median selling price for single-family home in February was $294,950, up from $275,000 in February 2013.

February was the 17th consecutive month of year-over-year price increases.

Home sales were down 25 percent from January, which is typical.

The Waltham-based association says the numbers were driven by high interest from buyers but a low number of homes on the market.

Association president Peter Ruffini says while winter weather hasn’t deterred buyers, “the lack of homes for sale over the past several months resulted in a drop in closed sales in February.”

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