Boston, MA - Local Housing Data - Summary

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Boston, Cambridge, Quincy, MA, NH

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Boston, MA Local News

  • New-Home Permits, Heat-Mapped

    CityLab demo guru Richard Florida heat-maps residential construction permits based on Trulia data. He notes that the Boston-Washington corridor is up; the Rustbelt and Sunbelt are down.

  • 1Q14 Boston Housing Market Analysis

    The first-quarter Metrostudy data for the Boston housing market shows a strong first-quarter for new-home sales.

  • Millennials: How Local Regulation Figures into Housing Choices

    Zillow research analyst Aaron Terrazas compares two Millennial magnets, Washington, D.C. and Boston, to explore the role local regulation, i.e. rent control, plays in household living arrangements, including household formation among Millennials.

New Home Sales and Prices Decrease in Boston According to Latest Data

Posted on: Aug 08, 2014 11:10:52 AM

The Boston, MA market saw a drop in new home closings year-over-year in April, and with a percentage drop steeper than March 2014, there were signals the market may be worsening. New home closings saw a 63.0% drop from a year earlier to 44. This was after the housing market saw a 34.1% drop year-over-year in March.

A total of 781 new homes were sold during the 12 months that ended in April, down from 856 for the year that ended in March.

New home closings represented 1.0% of overall housing closings. This is down from the a year earlier when new home closings accounted for 2.6% of total closings. For new and existing homes, closings slid in April after also declining in March year-over-year.

Pricing and Mortgage Trends

In April, the average price of newly sold homes declined year-over-year to $449,177 per unit, marking a 11.4% drop from the year-earlier figure. This decline is larger than the 2.4% drop in March from a year earlier.

Average mortgage size on new homes fell year-over-year in contrast to new home prices. It sank 2.2% in April from a year earlier to $320,334. In March 2014, average mortgage size on newly sold homes saw a 10.1% lift year-over-year from a year earlier.

 
 
 

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