“The Joint Centerof Housing Studies (JCHS) at Harvard University recently released their 2017 State of the Nation’s Housing Study, and a recent blogfrom JCHS revealed, “For the fourth year in a row, the inventory of homes for sale across the US not only failed to recover, but dropped yet again”.While sales and inventory in the Massachusetts and Greater Boston market also remain a challenge, buyers remained active but fatigued in June,” reports Linda O’Koniewski, CEO of RE/MAX Leading Edge. “Activity tends to slow down this time of year but we are expecting an uptick in inventory in late July/August.”
June sales of combined condo and single-family homes in Massachusetts decreased -6.6% year-over-year. Inventory remains down -28.2% and the number of days on market is also down +31.2%. Median sale prices remain up +6.8% while pending sales are up +6.5%.