‘The market is just frozen’: The demand for homes is high, but few owners are selling
The spring home-buying season, marked by April open houses and May closings, is nearing its peak. This year, though, it’s been more like a bump, the Globe’s Tim Logan reports.
The reason? There’s just not much to buy out there.
The number of homes for sale in Greater Boston — especially single-family houses in the suburbs — is at its lowest spring level in years. At the same time, attractive interest rates and pent-up demand have increased the number of people looking to buy.
For those home shopping, that means higher prices in a region already among the most expensive in the country. Last year, the median cost of a single-family home in Greater Boston climbed almost 10 percent, to $680,000, according to GBAR, the fastest clip since 2009, when the market was emerging from the prior year’s housing crash.
Read the complete story at BostonGlobe.com.
Don’t have a Globe subscription? Boston.com readers get a 2-week free trial.