HOW AND WHEN WILL HOUSING REBOUND?
National Association of Homebuilders (NAHB) Chief Economist Robert Dietz recently provided this housing industry overview in the bi-weekly e-newsletter Eye on the Economy.
Housing data for the end of 2022 illustrate a market continuing to weaken because of low housing affordability, largely as a result of elevated mortgage interest rates. At the start of 2023, the average 30-year fixed mortgage rate is near 6.5%, down from a near 20-year high of 7.1% in early November.
However, forecasters expect the Federal Reserve will end its path of rate increases at the end of the first quarter. This should lead to sustainable declines for mortgage rates in the second half of 2023 and into 2024, enough to spur a rebound for single-family construction.
And more construction is needed over the long term: A new NAHB study estimates the housing market is underbuilt by 1.5 million homes. (more…)
Open Houses Sunday January 15
Here are today’s Open Houses:
Click on these links for details:
Marblehead Open Houses
Swampscott Open Houses
Salem Open Houses
Beverly Open House
And these recent articles: (more…)
Hot Home Trend: Gothic Glam
Here’s one home style that could be described as eerily bold. Ferguson Bath, Kitchen & Lighting Gallery’s latest style report, 2023 Trends & Influences IX calls out “gothic glam” as a trend to watch in the new year.
Signatures of this look includes statement lighting fixtures, such as wrought-iron chandeliers and candelabras. To soften the style, pair it next to tall windows that flood a room with natural light, but also adds to the drama.
Other ways to add some Gothic Glam impact: Bronze plumbing fixtures, black accents, woodwork, vivid jewel tones and ultra-glamorous wallcoverings, Ferguson designers note in the style report.
Here are some stunning examples: (more…)
Open Houses weekend January 14/15
Here are this weekend’s Open Houses (an updated list for Sunday will be posted tomorrow at 8 a.m.):
Click on these links for details:
Marblehead Open Houses
Swampscott Open Houses
Salem Open Houses
Beverly Open House
And these recent articles: (more…)
New Listings week ending January 13
Here are the latest New Listings:
Click on these links for details: (more…)
December sales in Marblehead and Swampscott still mostly above List Price
The small number of December sales in Marblehead and Swampscott continued to show strength.
Marblehead
6 of 9 SFH sales in December – and 1 of 3 Condo sales – were over List price.
Swampscott
6 of 9 SFH sales in October were at or over List price, while 1 of the Condo sales was at List and one just below. (more…)
New Listings mid-week January 11
Here are the latest New Listings:
Click on these links for details: (more…)
Open Houses weekend January 7/8
Here are this weekend’s Open Houses (an updated list for Sunday will be posted tomorrow at 8 a.m.):
Click on these links for details:
Marblehead Open Houses
Swampscott Open Houses
Salem Open Houses
Beverly Open House (more…)
New Listings in early January
Here are the New Year’s early New Listings:
Click on these links for details: (more…)
New Listings mid-week January 4
Here are the latest New Listings:
Click on these links for details: (more…)
Open Houses New Year weekend
Here are this weekend’s Open Houses (just 1 in Beverly and Marblehead, 2 in Swampscott and 3 in Salem) :
Click on these links for details:
Marblehead Open Houses
Swampscott Open Houses
Salem Open Houses
Beverly Open House (more…)
New Listings after Christmas
Still quiet with just one new listing in each of Swampscott, Salem and Beverlky:
Click on these links for details: (more…)
No Open Houses Christmas weekend
There are no Open Houses this weekend in Beverly, Salem, Swampscott or Marblehead.
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 ajoliver47@gmail.com.
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
Andrew.Oliver@Compass.com
www.TheFeinsGroup.com
www.OliverReportsFL.com
————
Compass
800 Laurel Oak Drive, Suite 400, Naples, FL 34108
m: 617.834.8205
New Listings before Christmas
Here are the latest New Listings:
Click on these links for details: (more…)
New Listings mid-week December 21
Here are the latest New Listings:
Click on these links for details: (more…)
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