Massachusetts buyers are going to find a more balanced housing market this spring, as inventory is showing slight signs of improvement.

The annual rate of 4.58 million sales was up 14.5% from January but down 22.6% from the February 2022 rate of 5.92 million. 

The least affordable states were found in the Northeast and on the West Coast.

Nationally, the week of April 16-22 is likely to provide sellers with the most favorable conditions for a successful sale of any week of the year, although the exact timing varies widely by market. 

The list ranks the total market value of residential real estate by state.

The vast majority of Realtors — 92% — suggest that sellers improve the “curb appeal” of a home before listing. But how exactly should they go about that?

A shortage of existing-home inventory is driving more people to the market for newly built homes. 

The report highlighted the Bay State’s high number of small business incentives. 

Homebuilders expressed “cautious optimism” that the lack of existing inventory would drive demand for new homes despite high construction costs and interest rates, the National Association of Home Builders reported.    

“Latinos are more mortgage ready. Latinos have made strides in income and are more educated in the homebuying process,” said Nidia Fromenta Peguero of Century 21 North East in Danvers, Massachusetts. “They don’t want to rent anymore.”

The Mortgage Bankers Association noted the increase in borrowing activity came despite the 30-year fixed mortgage rate climbing to its highest level since November 2022. 

The Greater Boston Real Estate Board says its fight is just beginning.

Vice President of Association Affairs Jennifer Wauhob brings over a decade of experience to her new role with NAR.

As rising mortgage rates cool the market, the share of U.S. homes worth at least $1 million has fallen from an all-time high last year.

The real estate market is picking up as we head into spring in the Bay State, but that doesn’t mean it hasn’t been a strong condominium market thus far this year. 

In January, home prices were up 5.5% annually and down 0.2% monthly, CoreLogic reported, citing its monthly Home Price Insights report.