Cambridge MA Real Estate News

Boston sees slower home sales, rising prices, shrinking inventory to end the year MABA MassachusettsRealEstate FirstTimeHomeBuyers MaBuyerAgent The Boston real estate market continued its downshift as it ended 2023 as shrinking inventory limited homebuyer opportunities and pushed prices higher, according to the Greater Boston Association of Realtors (GBAR) December housing report. December home and condo listings reached a two-year low falling twenty to twenty five percent from 2022, while median selling prices rose both year over year and month over month. Add in mortgage rates above seven percent for most of the fall, GBAR found buyers and sellers taking a […]

Falling mortgage rates, rising listings mark house hunters return MABA MassachusettsRealEstate FirstTimeHomeBuyers MaBuyerAgent With mortgage rates dropping to their lowest levels in almost a year, house hunters are returning to a market that many had shied away from in 2023. For the week ended December, 28, 2023 the average thirty year fixed mortgage rate was six point sixty one percent, the lowest rate since May A new report from Redfin found the median housing payment in the U.S. has fallen $400 from its October peak, enticing buyers back to the market as they take advantage of lower mortgage rates and […]

December pending home sales surge past expectations MABA MassachusettsRealEstate FirstTimeHomeBuyers MaBuyersAgent Pending home sales jumped eight point three percent from November to December as mortgage rates continued to decline, the National Association of REALTORS® said, citing its Pending Home Sales Index. Pending sales, in which the contract has been signed but the transaction has not closed, are considered a leading indicator and generally precede existing-home sales by a month or two. Year over year, sales were up one point three percent. “The housing market is off to a good start this year, as consumers benefit from falling mortgage rates and […]

What to know when buying a home in the up coming spring 2024 MABA MassachusettsRealEstate MaBuyerAgent FirstTimeHomeBuyers Buying a home in the spring of 2024 presents a unique set of opportunities and challenges in the real estate market. Traditionally, spring has always been considered an ideal time for real estate transactions, and this year is no exception. As the snow melts and flowers bloom, more houses are typically put up for sale, giving potential buyers a wider selection of properties to choose from. This increase in inventory is a significant advantage, offering more options in terms of location, style, and […]

Boston home listings grow as prices stabilize MABA MassachusettsRealEstate FirstTimeHomeBuyers MaBuyerAgent Home listings grew in December as housing prices stabilized, closing out an interesting 2023 for the real estate market. Nationally, listings grew four percent year over year in December, a sign the market is becoming more active, giving prospective buyers higher levels of inventory to choose from, according to Realtor.com’s December Monthly Housing Trends Report. New listings in Boston grew nine point nine percent from 2022. Declining mortgage rates are a trend Realtor.com anticipates will make a positive impact on home-selling sentiment and the possibility that more new listings […]

What to ask before investing in real estate leads MABA MassachusettsRealEstate FirstTimeHomeBuyers MaBuyerAgent In the competitive world of real estate, leads are the lifeblood of any thriving business. Not all leads are created equal, though, and the decision to invest in them should be approached with both caution and strategy. Whether you’re a seasoned agent or a newcomer to the industry, understanding the nuances of lead-buying can significantly affect your bottom line and growth trajectory. The real estate market is awash with sources offering leads, but the quality can vary dramatically. High-quality leads are those that have a higher likelihood […]

Gov. Healey prioritizes production as key solution to housing shortage MABA MassachusettsRealEstate FirstTimeHomeBuyers MaBuyerAgent Housing was a key topic during Gov. Maura Healey’s State of the Commonwealth address Wednesday, just one day before she was set to speak in favor of the Affordable Homes Act before the state’s Joint Committee on Housing. The Affordable Homes Act, if passed, will create thousands of homebuying opportunities for those who right now cannot afford a home in the Bay State. On top of that, Healey says it will inject hundreds of millions of dollars into building programs and first-time homebuyer programs. Calling housing […]

2024 market outlook: What needs to happen for a robust year MABA MassachusettsRealEstate FirstTimeHomeBuyers MaBuyerAgent For decades, the real estate industry has been a linchpin in building a strong middle class and thriving economy. Homeownership, after all, is a key component of the traditional American dream. That’s still mostly true, but there’s no doubt things are changing. First-time homebuyers face more hurdles than ever to break into the market. Housing inventory is an enduring challenge. And federal lawsuits may change how agents earn a living in real estate sales. So where do we go from here, and what needs to […]

Mortgage rates hit nearly twenty year high, cause home sales to tumble MABA MassachusettsRealEstate FirstTimeHomeBuyers MaBuyerAgent Canceled home-sales contracts hit their highest rate in almost a year as skittish homebuyers blanche at mortgage rates that are the highest they’ve been in more than twenty years, according to a new Redfin report. In August, 60,000 or fifteen point seven percent of sales contracts were canceled, an increase from last year’s fourteen point three percent and the highest percentage of canceled contracts since October 2022, when mortgage rates first exceeded seven percent.  Last month’s average thirty year fixed mortgage rate was seven […]

Boston, Ma listings rise, giving homebuyers more options as summer ends MABA MassachusettsRealEstate FirstTimeHomeBUyers MaBuyerAgent A rise in new listings is finally giving potential homebuyers options as the summer market winds down. August ended with a surprise for homebuyers, a slowdown leaving more available listings for shoppers and lifting some of the drought of listings impacting the market, according to a new Zillow report. “Those still shopping for homes late in summer were offered a bit of relief, and not all from expected sources. Competition for houses tends to ease up at this time of year, giving buyers more time […]