Redfin economists say they expect the cooldown in budgets to lead to a cooldown in price growth over the next few months.
The shift comes at a great cost as rising mortgage rates continue to keep buyers out of the market.
Rents in Beantown rose again last month at a rate higher than national rent increases.
Housing starts, existing home sales inventory took a tumble as well in February.
Beantown is the third most expensive in the city for renters, according to a new report from Zumper.
While rising interest rates may lead to more reductions in the housing supply, it may also bring some much-needed balance to the market.
Nationally, pending home sales fell as interest rates rose last month.
The median price of a single-family home in the Bay State topped $500,000 last year.
The hot housing market has been held back by lack of inventory, but it’s not tempering prices, only the amount of sales.
Massachusetts home listings continued to decline in December, as sales prices reached new highs and homes sold in record time. But what does that mean for 2022?