May 2022 Housing Report
"According to Zillow, there are 12 Million people who want to move, but only 6 Million homes will sell because half of the folks who desire a new property are daunted by the process. Anyone struggling with how to get to where you want to go and wants a custom plan on how to move, please call a savvy Leading Edge agent who will show you the path. We aren't saying it's easy, but where there is a will, we know the way," reports Linda O'Koniewski, CEO of Leading Edge.
"Meanwhile, adjustable-rate mortgages are making a comeback, and we are starting to see some buyers secure home inspections. We are seeing fewer offers on properties than we were just two months ago due to interest rate hikes reducing buying power for would-be homeowners. The real estate landscape is changing, but sellers still hold the leverage in this market. We keep hearing people say that they wish they had bought last year. With housing prices expected to increase because of demand, even if the economic forecast slows down, my partner Eileen Hamblin knows that "Next year, people will wish they bought this year."
The following are location-specific overviews of market changes year-over-year, for a sampling of neighborhoods in the Greater Boston Area. Don't see your town listed? Contact me for a custom report!