Real estate news in Chicagoland
The typical increase in home sales as summer approaches failed to materialize nationwide last month, with average sales dropping 0.2% from April to May, but month-over-month sales in Boston dipped even further, declining 0.8%, according to the RE/MAX May National Housing Report.
Inventory levels rebounded last month, finally showing signs of recovery following a year of historical declines.
A 49-unit luxury residential development will be located at 635 Main St. in Wilmington.
Massachusetts is the second-best state to live in the U.S., according to WalletHub’s 2021 Best States to Live In list.
Home sales rose steadily again in May, as median selling prices also rose to record highs.
Anchor Point is set to break ground in Beverly this month on Phase 1 of the project which will bring 77 units of affordable family housing to the area.
The rise in equity could help stave off foreclosures because homeowners can tap into that equity and sell their home, unlike during the 2008 financial crisis when many homeowners found themselves underwater in their mortgage, according to CoreLogic.
The Boston Planning & Development Agency approved a request from developers to replace a previously approved hotel portion of their 150 Kneeland St. development with residences.
Experts at Builder Magazine recently came out with their Local Leaders list for 2020, which ranks the country’s 50 largest new-home markets based on closings by the end of the year.
Some cities fared better than others with the global pandemic and Boston is one of them, according to The Economist’s 2021 Livability Index’s ranking of the most livable cities in the world.