Pending home sales make minor gains for the month but substantial gains for the year, marking a slow but steady pace as housing begins to recover after a long recession.Read More »
Tag Archive for 'Boston sales outlook'
That said, in the longer term, higher rates could put a chill on sales, especially in high-priced markets like Greater Boston, or so says Lawrence Yun, chief economist for the National Association of Realtors.Read More »
The median price for single-family homes in Massachusetts rose to $313,000 in April, a near 14 percent increase compared to the same time last year as increased buyer demand and a tight housing inventory pushed up home values, new data released Wednesday shows.Read More »
For years we’ve been watching the phenomenon of “Shadow Inventory” of potential homes that need to be sold, and looking for impact on the market. This set of underwater or distressed properties is now shrinking rapidly. The number of homes with underwater mortgages fell by nearly two million last year. According to the Fed, home price gains of 10% will be enough to move 40% of underwater borrowers back above water. These home sellers are highly likely to buy another home in the same or comparable market, off setting new supply with new demand.Read More »
To shore up their dominance in the information and analytics sector, CoreLogic has shelled out $6M for Case-Shiller, one of the most respected real estate indicators in the sector.Read More »
The Big Number is 45%. Combined, all Boston neighborhoods saw a 45% decrease in inventory of condos for sale as of March 30 compared last year at this time. This decrease in inventory didn’t seem to effect sales as the average sale price went up 10% to $611K vs. $556K and the number of condo sales increased 3% to 644 units from 624. The median sales price increased 4% to $416K from $400K in 2012. On first glance this real estate market seems very healthy but a continuing decrease in inventory levels could create a problem going forwardRead More »
Will dwindling listings derail the real estate recovery?
At least for now, the answer is no.
The number of pending sales across the state jumped 4.6 percent in March compared to the same time last year, the Massachusetts Association of Realtors reports.
In fact, the 4,308 homes put under agreement was the best showing since March 2005, at the height of the real estate bubble, when buyers laid claim to 4,404 homes.Read More »
There’s no question about it, the operative theme of the 2013 housing market isrestricted supply. Ever since the bubble burst in 2006, we’ve been hearing about the dangers of over supply, of the massive “shadow inventory” out there. Yet we’re living in a vastly different reality. There are 40% fewer homes on the market now than there have been during February in the last few years.Read More »
Existing-home sales and prices posted strong year-over-year gains in February, while inventory remained tight but eased slightly, according to a monthly report released today by the National Association of Realtors (NAR).Read More »
According to the Trulia Winter 2013 Rent vs. Buy Report, buying a home in the top 100 major metros is cheaper than renting, even in light of home prices rising. The company analyzes homes for sale and rent on the site from December 1, 2012 to February 28, 2013 factoring in transaction costs, opportunity costs, and taxes to uncover that although rents and home prices are both rising, home ownership is still more affordable. Trulia says buying a home is 44 percent cheaper than renting nationwide, down just slightly from 46 percent in 2012.Read More »