As states reopen, #Boston #ma #HomeSales Up #homebuyer #broker #agent #realestatemarket

As states reopen, Boston Massachusetts home sales jump in June

Home sales hit a near-record month-over-month increase of 37% in June for RE/MAX, while inventory was at a record low of under two months, the company said in a press release. Sales were down just 6.9% from June 2019, with all 53 of RE/MAX’s metro markets posting monthly gains. “June home sales snapped back in a major way,”

RE/MAX Holdings CEO Adam Contos said in the press release. “With historically low interest rates, stabilizing unemployment and increased mobility tied to working remotely, buyer demand remains high in most areas of the country. We’re seeing positives in several leading indicators such as pending sales and mortgage applications.”

Contos added that inventory continues to be the industry’s biggest problem. “There’s also some potential in the idea that with changing workplace dynamics, underused commercial spaces could be transformed into residential properties.

Creative solutions like that may provide some relief for inventory constraints as well as affordability issues.” Inventory dropped 27.9% from June 2019, lowering the month’s supply to 1.9 from the previous report low of 2.7 set in May. The median sale price was $275,000, up 1.9% year over year and up 0.8% from May. That makes it the lowest year-over-year price increase since December 2018.

Transactions were up 31.3% month over month in Boston in June to 3,864, but down 29.2% from the previous year.

The post As states reopen, Boston home sales jump in June appeared first on Boston Agent Magazine.

Homebuyers: For access to all listings and to find a homebuyers real estate agent that will represent only your interests call 800-935-6222 or click the button below to connect with MABA. At MABA we got you!

FIRST TIME HOMEBUYERS

First Time Home Buying in Massachusetts

MABA Buyer Agents help first time home buyers reduce the stress and frustration normally associated with buying a home or condo – especially for first time home buyers.

As a first time homebuyer in Massachusetts, you can turn to our non-profit organization to help you understand and navigate the complexities of the entire Massachusetts real estate transaction, from mortgage pre-approval until you are handed the keys to your new home or condominium. Each of our member buyer's brokers and agents works only for their buyer-clients and never for the seller of the home or condo that their buyers want to buy.

MABA Buyer Agents will take the time to learn about you and your real estate goals, help you understand your options, including first time home buyer programs, properties and/or condominium associations, estimate real property values and put together a negotiating strategy to help you increase the odds of getting your offer accepted in our competitive Massachusetts real estate market. After advocating to get your offer accepted, your MABA buyer's agent will be there for you at your home inspection and help you protect your deposit through the inspection, purchase & sale and financing contingency periods.

You can buy your first home or condo with confidence knowing that your MABA buyer agent is committed to saving you time and money and helping you make your best home buying decision.