June Inventory shows modest increases
Single Family Homes (SFH)
After holding steady for much of the year, SFH inventory did see a boost in June, albeit only to the levels of the last two years and still well below that in 2020:
Condo inventory saw a more modest increase and remains well below half the 2020 level:
As inflation soared well beyond the Fed’s preferred 2%, interest rates climbed in 2022, driving mortgage rates to a multi-year high.
As inflation appeared to slow in early 2023, coupled with the failure of some large banks, the yield on 10T dropped, leading to a drop in the FRM of 1% . Inflation, however, has remained stubbornly high – and the labour market stubbornly strong- causing interest rates and the FRM to move up again.
And these recent articles:
Economic and mortgage commentary
Two signs Inflation is Slowing
Lies, Damned Lies and Inflation “Statistics”
Federal Reserve increase rates; Mortgage Rates drop
What drives Mortgage rates in one chart
How Marblehead’s 2023 Property Tax Rate is Calculated
Essex County 2023 Property Tax Rates:
Town by Town guide
Q1 2023 Market Stats
April Inventory shows little improvement
Marblehead 2022 Housing Market Review
Swampscott 2022 Housing Market Review
Beverly 2022 Housing Market Review
Salem 2022 Housing Market Review
Essex County 2022 Housing Market Review
Essex County Town by Town Guide: 2022 Median Prices and Sales; 2023 Tax Rates
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@example.com.
Andrew Oliver, M.B.E.,M.B.A.
Market Analyst | Team Harborside | teamharborside.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
800 Laurel Oak Drive, Suite 400, Naples, FL 34108