A slow recovery for Massachusetts real estate

The Bay State real estate market is slowly recovering—one month at a time. Check out these May numbers from the Massachusetts Association of REALTORS^® (MAR)¹:

• Single-family home sales were up 8% from April (3,441 units sold) to May (3,712).
• Sales dropped 30.3% from May 2019. However, the median price of a home did jump 4.7% from one year ago.
• Inventory remains an issue, as new listings were down 33.6%.
• Said MAR President Kurt Thompson: “The spring market will now be the summer market. Most likely, we’ll continue to see inventory levels decrease in the short term but will start to see a resurgence when we reach the other side of COVID‑19 issues.”

Here at Capstone Mortgage, the goal is to provide guidance and support. Please contact me if you have questions about the recovering real estate market.

¹Alessia Girardin, “Massachusetts real estate market ‘took a pause,’” Boston Agent Magazine, last updated June 24, 2020.