Q2 Real Estate Report is live for Greater Boston. This incredibly thorough report goes through sales data, inventory, and trends versus the same period in 2022.
One consistent theme that exists here in our markets, and nationally, is reduced inventory. The amount of homes for sale is not meeting demand so the feds interest rate hikes have not had the effect they may have wanted with price reductions. Instead prices are slightly up even though sales volume is down. The activity we see in the marketplace does not seem to be following as closely the seasonal shifts we normally see. The fluctuations in mortgage rates whether they are slightly up or down seems to be the strongest indicator of activity.
We are seeing many of our clients that are struggling to become sellers because they can't find the home they are looking for. This is greatly impacting the normal market movement for buyers and sellers in all price points. Older home owners that may have considered downsizing are sticking with their low interest rates even though where they are living may not match their changing needs.
We will continue to follow market trends and are here to guide you through your home journey.
Q2 Real Estate Report for Greater Boston
Compass
1100 Mass Ave., 1st Flr.
Cambridge, MA 02138
Savenor Berkery Group