Current Market Data
The flight of homeowners from large urban centers to the suburbs has unexpectedly begun to reshape residential real estate, but luxury property in large cities have also gotten a boost from the hot market.
“Much of what makes walkable neighborhoods so desirable and valuable has been diminished this year.” — Redfin chief economist Daryl Fairweather
A new Redfin report shows condos are selling for a record 17% discount to single-family homes as the coronavirus fuels demand for space.
A new report from Homes.com shows that prospective homebuyers are still waiting to see if they will work from home permanently.
It takes Boston homebuyers 9.74 years to meet the minimum threshold of 20%, or $153,980, to qualify for a mortgage.
There are 5.7 million “missing” households since the Great Recession, a fact likely to boost housing demand for at least the next several years.
Nationally, contract signings are up 20.2% compared to a year ago, but industry insiders say high prices are beginning to affect sales.
“In fact, we may be looking at one of the best buying opportunities in Boston since the last recession.” — GBAR President Jason Gell
Despite continued economic uncertainty from COVID-19, housing markets continue their upward projectory.
The boost from loosening credit, along with rising house-buying power, equity and household formation, was strong enough to overcome the negative impact on housing market potential from the increase in tenure length so far in 2020, says Chief Economist Mark Fleming.