2021 Q3 Market Overview

Mortgage rates at a record low and a scarcity of inventory are keeping the Greater Boston and Cape Cod housing market robust in terms of demand. While affordability concerns continue to rise, low mortgage rates, rising savings and a strengthening job market all work together to put homeownership within reach for many prospective buyers. Due to scarcity and demand, real estate will still appreciate at a faster pace through late 2021. According to CoreLogic, a data and analytics company, home prices nationwide increased year-over-year by 18.1% in August 2021 compared to August 2020, making the largest annual gain in home prices in the 45-year history of the CoreLogic Home Price Index.