Massachusetts Markets Predicted to Cool Off in 2025
Realtor.com economists project Greater Boston will have a drop in sales while home prices are projected to grow by 5.6 percent year over year.
Realtor.com economists project Greater Boston will have a drop in sales while home prices are projected to grow by 5.6 percent year over year.
The president-elect campaigned on a promise to make homeownership more affordable by lowering mortgage rates, but his policies could do the opposite, some analysts say.
Down payment percentage had increased nationwide beginning in the third quarter of 2021 with this year being the first year that it has begun to decline.
Mortgage rates have been climbing in recent weeks following a spate of encouraging reports on the U.S. economy, including a hotter-than-expected September jobs report and a snapshot of consumer prices.
With the Federal Reserve cutting its benchmark interest rate in September, the lower interest rates appear to have driven some increased market activity in Greater Boston.
While New England was represented in a recent report from Realtor.com regarding the top markets for real estate investors, Boston failed to crack the top 20.
While the median asking rent has dropped marginally year-over-year, Greater Boston renters are faced with the fifth-highest financial burden in the country.
While October is being declared the best month to buy a home this year, Massachusetts market data suggests otherwise.
We’ve got three of the top 10 in Realtor.com’s annual ranking of the hottest residential real estate submarkets in the country.
Springfield and Worcester real estate leaders are flattered that their areas are expected to be among the top performing housing markets in the U.S. in 2024. The only problem: They’re not sure either market is up to the job.
Sellers giving in to a “new normal” for mortgage rates. Home prices staying roughly flat. Demand for apartments and rental houses staying strong.
Some experts expect the nation’s housing markets to begin a long, grinding climb-out next year from the multi-year inventory dives they’ve been on since 2020, but two Massachusetts markets are expected to be top performers.
If the normal spread between the interest rates on 10-year Treasury notes and mortgage bonds existed today, the average 30-year mortgage rate could be as low as 5.7 percent.
Prominent economists across the real estate world are turning out their predictions for the new year, and some have New England markets in their lists of top performers for 2023. But uncertainty over the economy’s direction has created an unusually broad spread among this season’s forecasts.
Massachusetts’ housing market measurably cooling, but inventory is – so far – not rocketing upwards. The causes, experts say, are complex.
Economists at Realtor.com say that several New Hampshire cities are the nation’s hottest markets right now, with the Worcester metro area not far behind.
A record low 25 percent of respondents in Fannie Mae’s latest monthly Home Purchase Sentiment Index survey said it was a good time to buy a home.
Inflation is the big story in the American economy right now, but experts have been divided on its ultimate impact on the housing market.
Both companies said they were concerned crime statistics on listings pages promoted racial bias and may not be reliable.