Housing Market Remained Hot in May

Tim Logan, Boston Globe, June 29th, 2016

The region’s housing market continued its spring surge in May, with sales up by more than one-fifth in Massachusetts compared to last year, according to new figures out Tuesday.  Single-family home sales climbed 21% in May, according to data from the Warren Group, while condominium sales climbed 9%.  For the full year so far, sales of all kinds of properties are up 25% — a function of strong demand, low interest rates, and a healthy job market, along with a boost after the lag in the brutal winter of 2015 as homebuyers stayed in.  Prices climbed too, if not as fast.  The median price of a single-family home in Massachusetts in May was $347,000, up 2% compared to the same month last year.  The median condo price climbed 4.4% to $335,000.  In a separate report also out Tuesday, the S&P/Case-Shiller Index reported that housing prices in the Boston area hit a record high in April, and were up 5.7% year-over-year.

This entry was posted in Financing, Home Buying, Home Selling, Homeownership, Market Conditions, Mortgage and tagged , , , , , . Bookmark the permalink.

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