Housing Inventory declining again

Following year over year (YOY) increases for 11 consecutive months until June, the inventory of Single Family Homes (SFH) for sale in the 34 cities and towns of Essex County fell in August for the second month in a row.

Condos

The condo market is the focus on much of the new construction that takes place,and inventory at the beginning of August increased YOY for the 15th consecutive month.

Comment
It is summer, a quiet time in real estate markets, but this summer has seen a continuation of the sharp drop in mortgage rates, from almost 5% last November to 3.6% this week.

Andrew Oliver
Market Analyst | Team Harborside | teamharborside.com
REALTOR®

Sagan Harborside Sotheby’s International Realty
One Essex Street | Marblehead, MA 01945
m 617.834.8205
www.OliverReports.com
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