“This is a sign that the competitive purchase market, driven by low housing inventory and high demand, is pushing prices higher and weighing down on activity.” — Mortgage Bankers Association Associate Vice President of Economic and Industry Forecasting Joel Kan

Low mortgage rates and low inventory levels are making the demand for homebuilding more attractive to buyers in Boston and nationwide.

In 40% of metro areas analyzed, home prices in the first quarter hit or tied new peaks according to the report, including Boston. 

Kate Dirrane has joined Mortgage Network Inc.’s Boston branch as a loan officer and sales assistant. 

Homes in Boston stayed on the market for 24 days less than they did last year, at an average of 22 days.

Massachusetts home sales rose 14.6% in March from a year ago.

Boston condo sales jumped to their highest first-quarter total in 16 years.

The pandemic caused the mortgage market to tighten up, but as the economic recovery gains an increasingly solid foothold, lenders are starting to return to pre-pandemic practices.

Nationwide, the seasonally adjusted housing index rose 1.1% month over month in February and 12% year over year, up from monthly and yearly increases of 0.8% and 11.2% in January, respectively.

“Many of my clients are medical professionals and I love hearing about their journey and asking them why they wanted to be a physician or dentist.” — Stephen Morrison, Mortgage Loan Officer, TD Bank, Boston

The boost in inventory shows signs of seasonal norms as supply starts to catch up with demand.

Year over year, the pace of sales was up 66.8% nationwide.

Rent rates nationwide have been decreasing since the onset of the pandemic, but new data shows that in some cities, this could be changing in the near future.

Redfin has launched RedfinNow in the Boston area, marking the first iBuyer service in the local market. 

The DHS announcement comes in response to businesses reporting an immediate need for supplemental, temporary guest workers for this fiscal year.

Newbury Street could soon see almost 100 new residential units with the proposed redevelopment of 415 Newbury St. and 374 Commonwealth Ave. in Boston’s Back Bay.