July 2017 Housing Report

“The Joint Center of Housing Studies (JCHS) at Harvard University recently released their 2017 State of the Nation’s Housing Study, and a recent blog from 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%.