Redfin economists say they expect the cooldown in budgets to lead to a cooldown in price growth over the next few months. 

Worsening affordability challenges are affecting first-time homebuyers

The shift comes at a great cost as rising mortgage rates continue to keep buyers out of the market.

Nationally, the index posted its highest annual increase ever.

With affordability reduced, some buyers are pulling back from the market forcing sellers to adjust their price expectations.

Nevertheless, home prices are expected to continue rising through the end of the year, according to the National Association of REALTORS®. 

The median asking rent in Boston broke $3,000 in April.

Real estate market activity is declining on Cape Cod as inventory continues to fall and the median sale price rises.

Boston scored well in several categories. It was No. 3 for public transportation, No. 5 for electric vehicles and No. 9 for emissions.

The rate of new single-family home sales fell 16.6% from March’s revised number, while the median sales price jumped to $450,600 from March’s revised median house price of $435,000.