The economy and housing: Feelin’ lousy

Boston Condos for Sale and Apartments for Rent

The economy and housing: Feelin’ lousy

So what do you think of the economy and the local housing market. Feelin’ groovy or feelin’ lousy?

Existing-home sales drop sharply in March as economic uncertainty mounts

Home sales are down across the board, driven by low inventory and high prices.

Existing-home sales in March clocked in at a seasonally adjusted annual rate of 4.02 million, 2.4% lower than one year ago and a 5.9% drop compared to February, according to the newest report from the National Association of Realtors (NAR).

Sales are falling despite rapidly growing inventory, which is 19.8% higher than last year. The four months of supply, the highest level since September 2024, reflects this. The drop in sales and gain in supply didn’t greatly affect the median price, which rose 2.7% year over year to $403,700.

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Updated: Boston condo for sale blog 2025