News / Features
The pace of home sales has quickened this spring and it’s not just the highly sought-after entry-level home enjoying the brisk sales pace.
Housing records continue to be broken, but despite the strong numbers, data could indicate homebuyer demand is reaching a peak.
Higher income, backed up by lower mortgage rates, has expanded the reach of the average homebuyer, but an increased demand for homes has concurrently driven up prices, negating two of the three main factors in First American Financial Corp.’s Real House Price Index.
The number of sales, as well as the price of single-family homes and condos, continued to rise in the Boston area last month.
Existing-home sales slid for the third month in a row in April, declining 2.7% from March to a seasonally adjusted annual rate of 5.85 million, according to the National Association of Realtors.
Massachusetts home and condo sales hit new records in April and for the first time, the median single-family home price surpassed $500,000.
The limited inventory that has plagued the housing market continued, although at an abated pace.
Former Daniel Gale Sotheby’s International Realty COO Deborah Hauser has joined the real estate advisory and investment firm.
A recent NAHB survey shows that regulatory costs imposed by the government account for $93,870 (or 23.8%) of the current price of new homes.
Boston was the leader in the northeast region for the largest share of equity-rich homes.
These included 79.7% of the offers in Boston, a bump from the 74.8% rate this past March and leap from the 56.3% rate in April 2020.
Realtor.com’s analysis of how quickly homes sell and which city’s listings were viewed the most on its site helped determine the hottest real estate markets for the month of April.
The first quarter of 2021 brought home price gains in virtually every market, according to the National Association of Realtors.
Two more residential buildings, Overlook North and Overlook West, are slated to open this summer.
Housing inventory in the Boston area, meanwhile, remained below year-ago levels in April.
Whether they’re still weary of going to a gym full of people or just looking to work off those extra pandemic pounds in privacy, homebuyers are increasingly prioritizing home exercise rooms.
