Homebuyers in the Northeast remain undeterred by climbing property prices and tight inventory. The three most expensive New England markets, Manchester-Nashua, Worcester, and Providence-Warwick, saw annual price increases between 3.4% and 6.2%, with median list prices hovering just under $600,000. The inventory recovery in the region is sluggish, with only a 16.5% increase year-over-year, the lowest across the U.S. Hybrid work models are also driving interest in commutable suburbs, resulting in strong demand, competitive bidding, and ongoing price growth.
Several markets in the Northeast are heating up quickly, including Manchester-Nashua, Worcester, and Providence-Warwick, where prices rose between 3.4% to 6.2% annually.
The Northeast is facing extremely tight inventory, with only a 16.5% year-over-year increase in housing supply in June, the lowest of any U.S. region.
The demand in the Northeast remains strong particularly in midsize metros, appealing to buyers seeking suburban charm and proximity to major cities.
Hybrid working environments have increased the appeal of commutable areas, allowing households to consider more locations for their residence.
#northeast-housing-market #real-estate-trends #homebuyer-demand #inventory-shortage #hybrid-work-impact
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