Current Market Data
Home-price growth could slow by the end of 2022, despite the housing market breaking records in January.
Home-price growth is expected to average about 5% this year, far below the record-breaking pace set in 2021, RCLCO reported.
Nationally, pending home sales fell as interest rates rose last month.
The new year kicked off with the hottest January on record, despite having the first pending sales decline since June of 2020, according to a recent Redfin report. Last month, 45% of homes found a buyer within two weeks
The median price of a single-family home in the Bay State topped $500,000 last year.
Home values grew 19.6% last year, an all-time high in Zillow’s data, which goes back more than 20 years.
Boston, Barnstable and Worcester had three of the largest year-over-year increases.
Builders started to make headway against supply-chain issues that have hampered construction of homes in the face of high demand.
The hot housing market has been held back by lack of inventory, but it’s not tempering prices, only the amount of sales.
Rising prices and rates are driving up mortgage payments which are pushing up demand for rentals.
Massachusetts home listings continued to decline in December, as sales prices reached new highs and homes sold in record time. But what does that mean for 2022?
New homes and existing homes are appreciating at similar rates, according to a new report from CoreLogic.
Rent growth also slowed in December, posting the lowest monthly increase since February 2020.
“December saw sales retreat, but the pull back was more a sign of supply constraints than an indication of a weakened demand for housing.” — NAR chief economist Lawrence Yun
While multifamily starts surged 13.7% compared to November, the pace of new single-family housing construction slid 2.3%, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.
December housing sales fell lower than they have since the start of the pandemic, a new Redfin report found.
