Current Market Data
“Much of the home-sales growth is still occurring in the upper-end markets, while the mid- to lower-tier areas aren’t seeing as much growth because there are still too few starter-homes available.” — NAR chief economist Lawrence Yun
In what’s been a historic, frantic market, homes selling for large sums over list prices have risen sharply since January.
Sales activity in Massachusetts’ single-family housing market fell in July, even as the median sales price remained over $500,000.
You might be surprised by the results of this survey.
“The bright spot in an otherwise underwhelming report comes from the increase in the overall number of permits issued, which can signal how much home construction is in the pipeline.” — First American deputy chief economist Odeta Kushi
Single-family and condo sales both grew month over month, but also saw decreases in volume as the market shows signs of relaxing.
Following months of sky-high prices paired with manic competition — driven by limited supply — the frenetic housing market is starting to cool down. Somewhat.
Smaller, more affordable homes are hitting the market, helping moderate median list prices, according to Realtor.com.
For the first time since early March, no new records were set for median-home-sale prices last month, ending the five-month streak of record-breaking home prices.
Just 56.6% of homes sold during the quarter were affordable to families earning the U.S. median income of $79,900, according to the National Association of Homebuilders/Wells Fargo Housing Opportunity Index.