May Housing Inventory shows some improvement
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
Condos
The number of Condos available has also jumped, but in this case still remains below year ago levels:
Why This Housing Market Is Not a Bubble Ready To Pop
According to this report from Keeping Current Matters the major reason for the housing crash 15 years ago was a tsunami of foreclosures. With much stricter mortgage standards and a historic level of homeowner equity, the fear of massive foreclosures impacting today’s market is not realistic.
Homeownership has become a major element in achieving the American Dream. A recent report from the National Association of Realtors (NAR) finds that over 86% of buyers agree homeownership is still the American Dream.
Prior to the 1950s, less than half of the country owned their own home. However, after World War II, many returning veterans used the benefits afforded by the GI Bill to purchase a home. Since then, the percentage of homeowners throughout the country has increased to the current rate of 65.5%. That strong desire for homeownership has kept home values appreciating ever since. The graph below tracks home price appreciation since the end of World War II:
Open Houses this weekend
Here are this weekend’s Open Houses (an updated list will be posted at 8 am tomorrow for Sunday’s OHs):
Click on these links for details: (more…)
New Listings week ending April 29
A steady trickle of New Listings:
Click on these links for details:
Marblehead New Listings
Swampscott New Listings
Salem New Listings
Beverly New Listings
While SFH inventory overall in Essex County is greater than it was a year ago, it is still around half the level of 2020.
And read these recent articles:
Why are Mortgage Rates so high?
Time to Consider an Adjustable Rate Mortgage
The Federal Reserve and Mortgage Rates
Federal Reserve: “Make me responsible…. but not yet”
Marblehead’s disappearing Inventory
Is Real Estate seasonal?
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
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 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
Mid-week New Listings
Still just a small number of New Listings:
Click on these links for details:
Marblehead New Listings
Swampscott New Listings
Salem New Listings
Beverly New Listings
While SFH inventory overall in Essex County is greater than it was a year ago, it is still around half the level of 2020.
And read these recent articles:
Why are Mortgage Rates so high?
Time to Consider an Adjustable Rate Mortgage
The Federal Reserve and Mortgage Rates
Federal Reserve: “Make me responsible…. but not yet”
Marblehead’s disappearing Inventory
Is Real Estate seasonal?
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
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 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
Myths about today’s Housing Market
Andrew Oliver, M.B.E.,M.B.A.
Market Analyst | Team Harborside | teamharborside.com
www.OliverReportsMA.com
m.617.834.8205
Licensed in Florida
www.OliverReportsFL.com
Open Houses weekend April 23/24
Here are this weekend’s Open Houses (an updated list will be posted at 8 am tomorrow for Sunday’s OHs):
Click on these links for details: (more…)
Latest New Listings on St George’s Day
A modest increase in the number of New Listings:
Click on these links for details:
Marblehead New Listings
Swampscott New Listings
Salem New Listings
Beverly New Listings
Lynn New Listings
While inventory is levelling off around year ago levels it remains well below the levels of 2 years ago: (more…)
5 tips on how not to disappear in the hybrid workplace
When remote work was mandatory and all or most of your co-workers, your boss, and many of your external stakeholders were remote, the playing field was level. There was a real sense that we were all “in this together.” People were remarkably understanding and accepting of quirky situations, whether IT related or the result of the blurred line between home and work (think dogs barking and children crying during meetings). That kind of tolerance is now rare. And it’s just one of many pitfalls for remote workers.
Whether you are fully remote or in a hybrid work environment, avoid the “Zoom ceiling” by understanding and working around the potential pitfalls that come from lowered visibility in the office.
Knowledge at Wharton, a business journal from the Wharton School of the University of Pennsylvania, has suggested five steps to position yourself better for greater visibility to ensure that you are getting recognition for your accomplishments and staying in line for promotions and desirable assignments. Make sure your employer knows you aren’t stepping off the ladder. (more…)
New Listings remain low
A modest number of New Listings:
Click on these links for details:
Marblehead New Listings
Swampscott New Listings
Salem New Listings
Beverly New Listings
Lynn New Listings
While inventory is levelling off around year ago levels it remains chronically low compared with 2 years ago: (more…)
What Higher Mortgage Rates Mean for the Housing Market
The recent uptick in mortgage interest rates is having a chilling effect on home buyers at the moment, but Wharton real estate professor Benjamin Keys doesn’t expect that to last.
Mortgage interest rates have increased across all categories in the last several weeks, following the Federal Reserve’s first rate hike since 2018 to fight inflation. The interest rate on a 30-year fixed-rate mortgage topped 5% last week, compared with less than 3% a year ago. The jump corresponded with a 40% drop in mortgage applications from a year ago.
“Aside from a few days in 2018, we haven’t seen rates this high persistently since around 2011,” Keys said. “Mortgage rates are the real focus among a lot of people right now, and trying to understand what impact [that is] going to have on housing markets.”
Sky-high rents have been spiraling faster than home prices in the last decade, which will continue to push many Americans toward home ownership. With a fixed-rate mortgage, they can budget a stable monthly housing expense for the next 15 or 30 years. (more…)
New Listings before Easter and Passover
A modest number of New Listings:
Click on these links for details:
Marblehead New Listings
Swampscott New Listings
Salem New Listings
Beverly New Listings
Lynn New Listings
And inventory remains chronically low: (more…)
Open Houses Saturday April 16 – none tomorrow
A few Open Houses today, none on Easter Sunday :
Click these links for details: (more…)
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