February Inventory as low as this weekend’s temperature
Inventory usually starts the year low. While current levels may be above 2022’s extremes, they are well under half those of 2020.
Single Family Homes
Condos
Condo inventory has followed a similar pattern:
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 indication of a 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 climbed in 2022, driving mortgage rates to a multi-year high.
As inflation has slowed in recent months, and as the fear of a recession has increased, so market interest rates have declined, leading to a fall of 1% in the FRM in recent weeks.
And these recent articles:
Economic and mortgage commentary
Lies, Damned Lies and Inflation “Statistics”*
How Marblehead’s 2023 Property Tax Rate is Calculated
Essex County 2023 Property Tax Rates: Town by Town guide
Why Mortgage Rates Will Fall
Recession? Yes, no, maybe….
Federal Reserve tries to rewrite history
Has Inflation Peaked?
Time to Consider an Adjustable Rate Mortgage
Market Reports
December sales in Marblehead and Swampscott still mostly above List Price
Marblehead Q3 2022 Report: Median Price tops $1 million
Swampscott Q3 2022 Report: Median Price hits $800,000
Salem Q3 2022 Report: Median Single Family price breaks through $600,000
Is the U.S. Housing Market at a Crossroads?
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.”
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Andrew Oliver, M.B.E., M.B.A.
Real Estate Advisor
[email protected]
www.TheFeinsGroup.com
www.OliverReportsFL.com
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Compass
800 Laurel Oak Drive, Suite 400, Naples, FL 34108
m: 617.834.8205