Housing Inventory declining again
Following year over year (YOY) increases for 11 consecutive months until June, the inventory of Single Family Homes (SFH) for sale in the 34 cities and towns of Essex County fell in August for the second month in a row.
The condo market is the focus on much of the new construction that takes place,and inventory at the beginning of August increased YOY for the 15th consecutive month.
It is summer, a quiet time in real estate markets, but this summer has seen a continuation of the sharp drop in mortgage rates, from almost 5% last November to 3.6% this week.
Market Analyst | Team Harborside | teamharborside.com
Sagan Harborside Sotheby’s International Realty
One Essex Street | Marblehead, MA 01945
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated