Mass. home sales up in August - BusinessWeek

The Massachusetts Association of Realtors reports Monday that sales were up more than 17 percent in August when compared to the year-ago month, while median prices dropped about 4 percent to $315,000. The organization's president says sales are being driven by affordable prices and low interest rates. The Boston-based Warren Group, a publisher of financial data, said sales were up 15 percent last month when compared to August 2010, while median prices fell just over 3 percent. The organization cautioned that August 2010 was the slowest August in two decades. It was the second straight month for increased year-over-year sales. Both groups reported an increase in condominium sales. The organizations use slightly different calculation methods. Realtors