Demand for homes still there

The impact of the COVID-19 pandemic was apparent once April housing data began to roll in. The good news is the numbers weren’t as harsh as expected—especially in Greater Boston. Here’s more from RE/MAX’s National Housing Report¹:

• Home sales in April were down 16% year‑over‑year in the Boston metropolitan area‚ more than four percentage points lower than the national drop of 20.2%.
• The median sale price in the Boston area was up 11.6% from April 2019‚ outpacing the national spike of 9.3%.
• Inventory was down in all of the report’s 53 markets‚ falling 20.5% from a year earlier. Meanwhile‚ average days on the market dropped seven days to 46‚ accounting for a new low in the report’s 12-year history.

Capstone Mortgage is here to provide guidance and support to your business. Please contact me if you have questions about our ever-changing real estate market.

¹Kerrie Kennedy‚ “Buyer demand remains strong despite pandemic‚ says new report‚” Boston Agent Magazine‚ last updated May 18‚ 2020.