Current Market Data
Housing affordability has changed across all 50 top markets, proving to be more affordable than it was during the previous housing peak, according to First American Financial’s latest Real House Price Index.
All four geographic regions saw increases, led by the Midwest, which clocked a 10.4% rise from July, and the South, where sales rose 8.6%. Pending transactions rose 7.2% in the West and 4.6% in the North.
Property values continue to rise and those looking to downsize can make the most of the current market highs, but how much you can save by downsizing can vary significantly depending on where you live.
A new report shows the market cooled in August, at least in terms of the number of prospective buyers looking at homes.
The 10-city composite index rose 1.4% on a monthly basis and 19.1% on a yearly basis, while the 20-city composite gained 1.5% monthly and 19.9% annually.
Fewer buyers were looking for vacation homes in August, as the demand for second homes dropped for the third month in a row.
The seasonally adjusted estimate of new houses for sale at the end of July was 378,000, representing a supply of 6.1 months at the current sales rate.
A double-digit spike in the median price of a single-family home in Massachusetts last month caused sales numbers to decline for the second month in a row.
Last year’s en-masse move to remote work has driven what Zillow has dubbed the Great Reshuffling, as homeowners working from home have paused and reevaluated where and how they live.
The increase was driven by a 21.6% month-over-month spike in the rate of new multifamily construction. Single-family housing starts, meanwhile, slid 2.8%.
September’s reading of 76 was up one point from August, despite lingering challenges with labor and the building-material supply chain, the National Association of Home Builders reported, citing the latest NAHB/Wells Fargo Housing Market Index.
Despite the drop in prices, supply and demand imbalances have many first-time homebuyers renting, increasing demand for those units and driving up those prices.
Month over month, home sales were down 3.5%, and the median sale price declined 1.2% to $335,000.
According to Realtor.com’s Best Time to Buy Report, between Sept 12 and Oct. 17 is the best time to sell a home in most markets, but what about in Boston?
August home sales fell for the first time in 12 months as median sales prices of both single-family homes and condominiums declined or stayed flat last month.
Wonder where Boston residents are headed? You might be surprised.
