Melrose Home Sales Down Due To Expired Home Buyer Tax Credit
The median sale price of a single-family home in Melrose is up, however, according to the latest figures from The Warren Group.
Melrose single-family home sales were way down in April compared to the same month last year—like single-family home sales across the state—but the drop is due to the home buyer tax credit that expired last year, according to the head of The Warren Group. In April, 16 single-family homes sold in Melrose, compared to 28 in April 2010—a drop of more than 42 percent, according to the latest figures provided by The Warren Group. Statewide sales dropped 28 percent in April compared to the same month a year ago. The reason for the big drop in April, Warren Group CEO Timothy M. Warren Jr. said in a press release, is the tax credit included in the federal stimulus bill that required home buyers to sign a purchase contract on or before April 30, …
