Current Market Data
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.
With the lowest level of inventory in nearly 40 years, the 2021 spring market has homebuyers facing a level of competition not seen in a generation.
High demand and low inventory levels continue to drive up prices heading into the spring and summer markets.
As they come of peak age for first-time homeownership, millennials are gaining an increasing share of today’s housing market.
The median sales price of homes in the 53 metro areas covered by RE/MAX’s National Housing Report rose 4.5% month over month in March to $303,000, marking the first time in the 13-year history of the report that it topped $300,000.
Recent data found real estate markets north and west of Boston were among the hottest last month.
Privately owned housing starts jumped 19.4% from February’s revised estimate to a seasonally adjusted annual rate of 1,739,000, according to the U.S. Census Bureau and the Department of Housing and Urban Development.
Forty-three percent of respondents to the first-quarter Zillow Home Price Expectations survey expect inventory to improve in the second half of the year, followed by 26% who expect it in the first half of 2022.
Boston homes listed on a Tuesday, Wednesday or Thursday are selling for more than those listed on the weekend, but how much varies by metro area.
The housing supply shortage is expected to get more extreme as homebuyer demand continues to outweigh inventory levels, a new study found.
