June 29, 2022 Massachusetts

June Market Update (MA)

Across Massachusetts market supply is on the rise, which is a great relief to many buyers out there. 2022 has had the lowest market inventory the state has seen is over 25 years. The listing inventory has actually matched the previous year in both May and June (while market supply is over 10% lower). This indicates that even compared to the market activity last year that the inventory available is leaving the market more rapidly than the previous year.

Conventional loans are still predominately used (47% of MLS sales across the state), however even in this climate, FHA is still about a quarter of the sales (23% of MLS sales across the state). Out of these sales, duplexes are the bulk of all sales by far, accounting for 62% of the market. While the chart indicates that >6 units is only about 5% of sales, this data is limited to the MLS and the MLS is not the primary listing tool for medium to large multi-family buildings.