Boston Home Prices Won’t Return to Normal for at Least 10 Years
While homebuyers in Greater Boston are receiving some relief, they won’t see a return to something that feels like “normal” any time soon.
While homebuyers in Greater Boston are receiving some relief, they won’t see a return to something that feels like “normal” any time soon.
While starter homes across the nation are getting more affordable, the same can not be said for those in Greater Boston.
Sales of single-family and condominium homes surged in April after years of declines, leading one Realtor trade group to herald “a rebirth” of its regional housing market. But it wasn’t enough to keep prices in check.
Quaint coastal communities just north of Boston are seeing their proximity to the city buffer them from home-price softness seen elsewhere in the state.
The latest data on the Massachusetts housing market shows that fewer houses sold across the state last month than any September since 2010, when the state was still in the grip of the Great Recession.
New data shows that a tiny proportion of Boston-area homes are selling for less than their owners paid thanks to a supply of homes for sale that’s shrunk much faster than demand as interest rates rose over the last 18 months.
High mortgage rates and low inventory helped simultaneously support a rise in the state’s median home prices in February while giving a further kick to the total numbers of homes sold, experts say.
A new analysis by Redfin economists has found that the share of listings that the median-earner could afford in Massachusetts’ two biggest metros has fallen nearly 60 percent or more over the last year.
The number of people between the ages of 20 and 64 in Massachusetts is projected to fall by 120,000 people by 2030, a worrying trend that a leading business group says requires aggressive countermeasures.
Homeownership is often looked at as a good investment, but the rapid run-up in Massachusetts home prices last year took that to new heights.
Boston rents may be rebounding as college students return to the city, but the effective cost of housing is rising more than twice as fast, according to a new report.
U.S. home prices jumped in October by the most in more than six years as a pandemic-fueled buying rush drives the number of available properties for sale to record lows.