Current Market Data
The Mortgage Bankers Association said the post-Memorial Day increase came despite economic uncertainty and largely static interest rates.
Plus, with a median build year of 1964, Massachusetts has the third-oldest median home age in the nation.
T3 Sixty said the difference between real estate agents who subscribe to MLSs but are not Realtors and Realtor-subscribers hit 25%, the highest on record.
An analysis of U.S. Census data by Point2Homes found that many suburbs, including several around Boston, have recently shifted from majority-homeowner to majority-renter populations.
The Northeast and Midwest remained strong, while Florida, which saw a major runup in prices in recent years, continued to cool.
The 6.3% month-over-month decline was the steepest the U.S. market has seen since September 2022.
In Boston, home prices rose 4.72% year over year and 0.74% month over month in March.
“We are seeing some changing market dynamics over the last few months, ” said CCIAOR President Todd Machnik said in a release.
Boston ranks lower for rates of millennial homeownership, but not below other large coastal metro areas like Los Angeles, New York and San Jose.
New data from GBAR shows that median sales prices for single-family homes and condos in Boston broke records, surpassing all-time highs for the month.
New data released by CoreLogic/Cotality, and examined by noted industry researcher Mike DelPrete, contradicts this commonly held notion, however, and shows that the ratio is actually closer to 65/20.
Nationally, home sales slid 1.4% year over year but increased 11.3% month over month, RE/MAX said.
Realtor.com categorized Springfield as a “Very Hot” market, finding that Springfield’s inventory moved 27 days faster than the U.S. overall.
The association noted, however, that 90% of the responses to its survey tracking homebuilder sentiment were received before the announcement of a 90-day reprieve in U.S.-China tariffs.
Driven primarily by the construction boom during the pandemic, the housing market has seen some improvements in affordability, but homes remain out of reach for many would-be buyers.
The most recent Weekly Mortgage Applications Survey shows homebuyer activity continued despite the economic uncertainty.
