By the Numbers
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A year-over-year look at some of the key metrics in Boston’s residential real estate market.
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Despite the new record in September, the rate of increase continues to slow.
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The new findings come from real estate tech strategist Mike DelPrete.
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The increase follows two months of declines, the National Association of REALTORS® said.
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Multifamily construction, meanwhile, rose on a monthly basis.
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Looking ahead, the CoreLogic Home Price Insights report predicts home prices will dip by 0.1% in October on a month-over-month basis.
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Nationally, interest rates fell as builder confidence rose last month.
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The S&P CoreLogic Case-Shiller U.S. National Home Price Index hit a new record in August, marking the 15th month in a row of new highs.
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The median price of a new home sold during the month was also up, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.
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Sales slid 1% compared to August, the National Association of REALTORS® said.
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Multifamily starts, meanwhile, declined, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development said.
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October’s increase comes as inflation slows and mortgage rates decline.
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At the same time, the median-sales price declined from August, according to the RE/MAX National Housing Report.
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The latest reading of the National Association of REALTORS® Pending Home Sales Index shows a return to month-over-month growth after a decline in July.
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The 716,000 per-year rate of new-home sales topped the consensus estimate of 700,000.
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Despite a summer marked by falling mortgage rates and increased inventory, homebuying activity in Greater Boston has cooled since late spring.