Current Market Data
Americans believe it’s a much better time to sell a home than to buy one, according to Fannie Mae’s latest survey of home purchase sentiment.
The number of buyers who locked in mortgage rates for second homes spiked to 178% year over year in April, according to a report from Redfin.
The survey showed that 86% of dog owners said dog-friendly features — such as having a dog door or access to a dog park — are a large part of their decision-making process, and 84% are willing to spend more for these features.
Multifamily rents rose nationally in April indicating ongoing recovery from the pandemic, according to the latest Yardi Matrix Multifamily National Report.
The housing market hit records last month as home prices reached an all-time high and homes sold faster than ever.
Listing keywords associated with families and children, like community pools, nearby parks and cul-de-sacs, led to both faster-than-expected sales and higher premiums.
“This is a sign that the competitive purchase market, driven by low housing inventory and high demand, is pushing prices higher and weighing down on activity.” — Mortgage Bankers Association Associate Vice President of Economic and Industry Forecasting Joel Kan
In 40% of metro areas analyzed, home prices in the first quarter hit or tied new peaks according to the report, including Boston.
Homes in Boston stayed on the market for 24 days less than they did last year, at an average of 22 days.
Massachusetts home sales rose 14.6% in March from a year ago.
Boston condo sales jumped to their highest first-quarter total in 16 years.
Nationwide, the seasonally adjusted housing index rose 1.1% month over month in February and 12% year over year, up from monthly and yearly increases of 0.8% and 11.2% in January, respectively.
The boost in inventory shows signs of seasonal norms as supply starts to catch up with demand.
Year over year, the pace of sales was up 66.8% nationwide.
Rent rates nationwide have been decreasing since the onset of the pandemic, but new data shows that in some cities, this could be changing in the near future.
As the economy slowly recovers from the early days of the pandemic, the share of loans in forbearance dropped for the seventh consecutive week, signifying a 40-basis-point decrease in the last two weeks.
