Today’s Top News: Boston ranks No. 1 in US for pending home sales

Current Market Data

Unemployment drops again, but long road to recovery remains

Nearly two million jobs were restored in July, as the economy struggles to return to pre-pandemic levels.
One-in-five Americans have moved or know someone who has due to COVID-19

While the pandemic has not significantly affected plans to purchase a home, it’s fueling relocations, according to a new report.
On solid footing pre-pandemic, multifamily market absorbs recession’s impact

Freddie Mac’s latest multifamily midyear report reveals the effect of COVID-19 on the market so far, predicting total origination volume will decline by between 20% and 40% by the end of the year.
Home prices accelerated in June as the housing market continues to demonstrate its strength

CoreLogic’s HPI Forecast predicts prices will continue to post annual gains through 2020, a sign of the sector’s continued resiliency.
Boston has lower millennial homeownership rate than national average

Report finds higher cost of living, higher median earnings compared to national average.
Consumer confidence around home buying has increased during COVID-19

A new survey on consumer sentiment about the real estate market shows buyers are surprisingly optimistic right now. More than 42,000 consumers across the nation participated in the survey, conducted by Meyers Research. Respondents were represented all age groups,
Boston ranked 7th most expensive city for housing

RealtyHop asks whether homeownership is affordable for the average family? See how Boston did.
Two months in a row for improved pending home sales

Contract activity up over last year “remarkable,” according to NAR chief economist.
Home prices continued to rise in May, albeit slightly

Amid high unemployment and continued pandemic woes, home price growth remained stable in May.
Home price appreciation expected to accelerate through the summer, according to a new report

The supply and demand imbalance that existed entering the pandemic has worsened, insuring house price growth will likely remain strong this summer.
Newly pending sales in Boston jump 40% in mid-July

Zillow reports that homes typically went under contract in two weeks.
Pandemic-era homebuyers are migrating for more space

The coronavirus pandemic is causing homebuyers to rethink what they want in a home, with more people relocating to places where they can afford more outdoor space and room for home offices, according to a new report.
New residential home sales soar in June

New single-family home sales climbed in June, supported by low interest rates, a renewed consumer focus on the importance of housing and rising demand in lower-density markets like suburbs and exurbs.
Escape to the Cape? Pending sales hit record high during pandemic

The Cape Cod & Islands Association of Realtors reports pending single-family home sales jumped 76% in June.
NAR: Existing-home sales bounce back in June

See how the Northeast did last month compared to the rest of the nation.
Single-family rent price growth plunged in May, according to new report

Rent price growth for single-family homes in May slowed to its lowest level since 2010.

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