May Housing Inventory shows some improvement

· by · in

There has been a sharp, seasonal increase in the number of properties for sale in the last two months, but this only brings the available inventory back to around last year’s levels and well 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 10-year high.

Mortgage rates

 

Comment
With inventory still low – there are just 7 Single Family Homes for sale in Marblehead, for example, out of a stock of some 6,300 – the supply demand imbalance remains more of a factor than higher mortgage rates.

 

And read these recent articles:

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
Market Analyst | Team Harborside | teamharborside.com
REALTOR®
Sagan Harborside Sotheby’s International Realty
One Essex Street | Marblehead, MA 01945
m 617.834.8205

www.OliverReportsMA.com
[email protected]

Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated

Andrew Oliver
Sales Associate | Market Analyst | DomainRealty.com
REALTOR®

Naples, Bonita Springs and Fort Myers
[email protected]
m. 617.834.8205
www.MarbleheadSouth.com