Boston Real Estate Market May Soften for Buyers in 2022

Real estate sales in the city of Boston have slowed over the first few months of 2022, indicating a cooling housing market. Since the beginning of the year, the average 30-year fixed APR has increased by over 70%, as rates jumped from 3.183% to 5.422%. This has slightly softened the market for buyers, as the total number of listings on market has increased since January. While home prices have increased so far in 2022, they’ll likely decelerate during the latter half of the year considering both housing supply and interest rates are on the rise.
Boston’s Real Estate Inventory Growing While Number of Property Sales Sluggish

Boston’s total inventory of for sale properties has been growing steadily over the first four months of 2022. We began the year with 90 single family homes for sale in Boston. The supply of single family properties has since increased to 162 for-sale units as of May 1. That marks an 80% increase in the city’s total single family inventory since the beginning of 2022.