Boston Pads

Full post: https://bostonpads.com/blog/boston-housing-market/boston-real-estate-market-may-soften-for-buyers-in-2022/ Real estate sales in the city of Boston have slowed over the first few months of 2022, indicating a cooling housing market. Since the beginning of the year, the average 30-year fixed APR has increased by over 70%, as rates jumped from 3.183% to 5.422%. This has slightly softened the market for buyers, as the total number of listings on market has increased since January. While home prices have increased so far in 2022, they’ll likely decelerate during the latter half of the year considering both housing supply and interest rates are on the rise. Boston’s Real Estate Inventory Growing While Number of Property Sales Sluggish Boston’s total inventory of for sale properties has been growing steadily over the first four months of 2022. We began the year with 90 single family homes for sale in Boston. The supply of single family properties has since increased to 162 for-sa...

Full post: https://bostonpads.com/blog/boston-housing-market/boston-real-estate-market-mid-year-forecast-2022/ Boston’s real estate market has been one of the nation’s storylines over the past decade. The metro area has seen the housing market explode as the limited supply of real estate inventory just hasn’t been able to keep pace with growing demand. Now, Massachusetts holds the 5th highest median sale price among all 50 states, and Boston is not far behind San Francisco in terms of real estate prices. Many predicted that the red hot Boston real estate market would cool off in 2022 amidst record inflation, rising interest rates, and a recession looming. Half way through the year, it looks like those predictions may be turning into reality. Real estate sales have dipped slightly compared to the beginning of the year and inventory is up considerably from last year. However, Boston real estate prices are still rising thus far in 2022, albeit at a slower rate than last year.