July Inventory shows welcome increase

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There has been a sharp increase in the number of properties for sale in the last four months, but while this takes inventory of SFHs above the year ago level, it remains below that of 2020:

Single Family Homes

Housing Inventory

 

Condos
The number of Condos available has also jumped, but in this case still remains below year ago levels:

 

Mortgage rates
The 30-year Fixed Rate Mortgage fluctuated around 3% for most of 2021. The Fed appeared to many commentators (read my “Party on, dude” says the Federal Reserve posted in March 2021) to be taking an overly optimistic view about inflation; its policy reversal late in 2021 sparked a jump in the crucial 10-year Treasury yield and hence in mortgage rates. With inflation continuing to soar well beyond the Fed’s preferred 2%, interest rates have climbed in 2022, driving mortgage rates to a multi-year high. There has, at least, been some easing in the last couple of weeks, as the yield on the 10-year Treasury Note has fallen from 3.5% to its current 2.8% (Read Have Mortgage Rates peaked?) as expectations have grown that we are in or near to a recession. (Read Are we already in a Recession?)

Comment

And these recent articles:
Economic and mortgage commentary
Has Inflation Peaked?
Federal Reserve in Fantasyland: Implications for Housing Market
Time to Consider an Adjustable Rate Mortgage
How Marblehead’s 2022 Property Tax Rate is calculated
Essex County 2022 Property Tax Rates: Town by Town guide

Market Reports
How quickly are houses selling?
Have Home Sales slowed?
June Housing Inventory: still way below 2020 levels.

Other
Free Property and Mortgage Fraud alert notification for homeowners
Guide to Buying and Selling in Southwest Florida

If you – or somebody you know – are considering buying or selling a home and have questions about the market and/or current home prices, please contact me on 617.834.8205 or [email protected].

Andrew Oliver, M.B.E.,M.B.A.
Market Analyst | Team Harborside | teamharborside.com
REALTOR®

m 617.834.8205

www.OliverReportsMA.com

“If you’re interested in Marblehead, you have to visit the blog of Mr. Andrew Oliver, author and curator of OliverReportsMA.com. He’s assembled the most comprehensive analysis of Essex County we know of with market data and trends going back decades. It’s a great starting point for those looking in the towns of Marblehead, Salem, Beverly, Lynn and Swampscott.”
__________________

Andrew Oliver, M.B.E., M.B.A.
Real Estate Advisor
[email protected]
www.TheFeinsGroup.com
www.OliverReportsFL.com

————
Compass
800 Laurel Oak Drive, Suite 400, Naples, FL 34108
m: 617.834.8205

And read these recent articles:
Free Property and Mortgage Fraud alert notification for homeowners
Marblehead Neck Oceanfront New Listing
Swampscott House on over 1 acre with HUGE potential
Why This Housing Market Is Not a Bubble Ready To Pop
Can the Federal Reserve prevent a Recession?
How Marblehead’s 2022 Property Tax Rate is calculated
Essex County 2022 Property Tax Rates: Town by Town guide
Essex County 2022 Commercial Property Tax Rates: Town by Town guide
Guide to Buying and Selling in Southwest Florida

If you – or somebody you know – are considering buying or selling a home and have questions about the market and/or current home prices, please contact me on 617.834.8205 or [email protected].

“If you’re interested in Marblehead, you have to visit the blog of Mr. Andrew Oliver, author and curator of Oliver Reports . He’s assembled the most comprehensive analysis of Essex County we know of with market data and trends going back decades. It’s a great starting point for those looking in the towns of Marblehead, Sale, Beverly, Lynn and Swampscott.”

Andrew Oliver, M.B.E., M.B.A.
Market Analyst | Team Harborside | teamharborside.com
REALTOR®

m 617.834.8205

www.OliverReportsMA.com

————-

Andrew Oliver
Real Estate Advisor
[email protected]
www.TheFeinsGroup.com
www.OliverReportsFL.com
m: 617.834.8205