Boston MA tops list of markets with fewest home listings MABA MassachuettsRealEstate FirstTimeHomeBuyers MaBuyerAgent

 Boston has the fewest home listings nationally, in a market steeped with competition driven by low inventory. A new report from Zillow found Boston is the number one market for year-over-year declines in housing supply. Boston listings are down seven point two percent from 2023, followed by Pittsburgh, which was down fourteen point two percent, and Washington, D.C., which was down thirteen point six percent, according to Zillow’s March Housing Market Report. Nationally in March, new listings rose fifteen point five percent from February and were up three point seven percenrt from 2023.

 New listings were down twenty five point four percent from pre-pandemic levels Zillow’s report found that depending on their locations, homebuyers are encountering very different scenarios when it comes to competition in the current market all driven by the same factor: inventory. And that’s not all. Typical U.S. home values are up forty two point four prcent compared to pre-pandemic levels, as is the typical monthly mortgage payment, which is up nearly one hundred and eight percent, more than double pre-pandemic payments. Annually, the typical mortgage payment is up seven point one percent from last year. Boston had one of the highest annual home-price gains in March. Zillow found home values were up from last year in forty seven of the fifty largest metros. Annual price gains were highest in Hartford, Connecticut (twelve point seven percent), San Diego (eleven point eight percent), San Jose, California (eleven point two percent), Boston (nine point five percent) and Los Angeles (nine point three percent).

The post Boston tops list of markets with fewest home listings appeared first on Boston Agent Magazine.

FIRST TIME HOMEBUYERS