Boston Condos for Sale and Apartments for Rent


How does the national and local housing data look?

In today’s Boston real estate blog, we’ll examine last months data compared to one year ago.

National Housing Data

First, we’ll look at last month (August 2022) national housing data.

What was the nations average interest rate in August 2022?

The national average mortgage interest rate was 5.95%, up from 2.87% one year ago.

image 104
Boston condos for sale

What was the nations unemployment rate in August 2022?

The nations unemployment rate was 3.5%. down from 5.4% one year ago.

image 105
Boston condos

My thoughts

Historically speaking, the above numbers are positive. Obviously, interest rates rising so quickly doesn’t bode well for the nations housing market.

Local Housing Market Data

What was the Massachusetts unemployment rate in August 2022?

Massachusetts unemployment rate was 3.27%, down from 5.8% one year ago.

image 106
Boston condos for sale

What were Massachusetts housing starts in August 2022?

Massachusetts had 2,469 housing starts in August 2022, down from 3,148 from a year ago.

image 107
Boston condos for sale

What was the local housing inventory?

Local housing inventory was 3.760, up from 3.694 from a year ago.

image 108
Boston condos for sale

How long was the days-on-market to sell a local home?

Day’s-on-market increased slightly from 18 to 20

image 109
Boston condos for sale

My thoughts

Edging on the negative side, but nothing really to be too concerned about. Next month’s data will show if there’s a trend emerging on day’s on market and increased unsold inventory. If so, red flags should go up.

Call Now