The Warren Group reported today that Massachusetts housing prices worsened and both sales and values declined substantially again in March (08).

single-family homes in Massachusetts fell more than 10 percent in March, the second-steepest price drop since The Warren Group began recording prices in 1987. The last time prices declined by more than 10 percent was in December 1990, the nadir of the early-1990s housing crisis…

median price of single-family homes fell 10.6 percent from $340,000 in March 2007 to $304,000 this past March. The median price during the first quarter fell 8 percent, from $337,000 to $310,000. Single-family home sales in March fell 31.6 percent, from 3,853 last year to 2,637 this year. Home sales in the first quarter declined 27 percent, from 9,434 to 6,891

“Nadir” sounds good and if history is an indicator then this could be it (the bottom) right? Sure it could be but I’d sure expect to see a housing nadir in December before I’d expect to see one stuck in the heart of the spring selling season. No I’m afraid it isn’t over, we’re still nadirless.

Just because we’re not at the bottom doesn’t mean there aren’t deals out there. We’ve seen some signs of life in the last few weeks and have put a number of properties under agreement. A lot of investors are starting to feel like they’re starting to gain a little footing.