Massachusetts May 2022 - Market update

[Ian Hogan]

The Massachusetts Market has started the annual pattern of increased supply in the summer and fall months. Listing Inventory has sharply increased across the state between April and May, as well as the Market Supply finally breaking over 1 month of supply for the first time in 2022. This looks to be directly correlated with the inventory increase due to the evidence of high buyer competition remaining, evident in the difference between Sale Price and List Price increasing to almost 2% on average.

Past trends would indicate that the market inventory will continue to increase over the next few months. Although rates are increasing the demand remains high and even with increased inventory the state is at all time lows historically. Unfortunately for buyers it seems the relief in pricing will not yet arrive.

How do you think the trend through the summer will go as rates continue to rise?