Graph and download economic data for Housing Inventory: Median Days on Market in Boston-Cambridge-Newton, MA-NH (CBSA) (MEDDAYONMAR14460) from Jul 2016 to Feb 2025 about Boston, NH, MA, median, and USA.

Graph and download economic data for Housing Inventory: Median Days on Market in Essex County, MA (MEDDAYONMAR25009) from Jul 2016 to Feb 2025 about Essex County, MA; Boston; MA; median; and USA.

Graph and download economic data for Housing Inventory: Median Days on Market in Pittsfield, MA (CBSA) (MEDDAYONMAR38340) from Jul 2016 to Feb 2025 about Pittsfield, MA, median, and USA.

The S&P Case Shiller Boston Home Price Index has risen steadily since February 2020. The index measures changes in the prices of existing single-family homes. The index value was equal to 100 as of January 2000, so if the index value is equal to 130 in a given month, for example, it means that the house prices have increased by 30 percent since 2000. The value of the S&P Case Shiller Boston Home Price Index amounted to nearly 335.36 in August 2024. That was above the national average.

Graph and download economic data for Housing Inventory: Median Days on Market in Massachusetts (MEDDAYONMARMA) from Jul 2016 to Feb 2025 about MA, median, and USA.

The U.S. housing market has slowed, after 13 consecutive years of rising home prices. In 2021, house prices surged by an unprecedented 18 percent, marking the highest increase on record. However, the market has since cooled, with the Freddie Mac House Price Index showing more modest growth between 2022 and 2024. In 2024, home prices increased by 4.2 percent. That was lower than the long-term average of 4.4 percent since 1990. Impact of mortgage rates on homebuying The recent cooling in the housing market can be partly attributed to rising mortgage rates. After reaching a record low of 2.96 percent in 2021, the average annual rate on a 30-year fixed-rate mortgage more than doubled in 2023. This significant increase has made homeownership less affordable for many potential buyers, contributing to a substantial decline in home sales. Despite these challenges, forecasts suggest a potential recovery in the coming years. How much does it cost to buy a house in the U.S.? In 2023, the median sales price of an existing single-family home reached a record high of over 389,000 U.S. dollars. Newly built homes were even pricier, despite a slight decline in the median sales price in 2023. Naturally, home prices continue to vary significantly across the country, with West Virginia being the most affordable state for homebuyers.

Graph and download economic data for Market Hotness: Listing Views per Property in Essex County, MA (LDPEPRMMCOUNTY25009) from Sep 2017 to Feb 2025 about Essex County, MA; Boston; MA; listing; and USA.

House prices grew year-on-year in most states in the U.S. in the third quarter of 2024. The District of Columbia was the only exception, with a decline of three percent. The annual appreciation for single-family housing in the U.S. was 0.71 percent, while in Hawaii—the state where homes appreciated the most—the increase exceeded 10 percent. How have home prices developed in recent years? House price growth in the U.S. has been going strong for years. In 2024, the median sales price of a single-family home exceeded 413,000 U.S. dollars, up from 277,000 U.S. dollars five years ago. One of the factors driving house prices was the cost of credit. The record-low federal funds effective rate allowed mortgage lenders to set mortgage interest rates as low as 2.3 percent. With interest rates on the rise, home buying has also slowed, causing fluctuations in house prices. Why are house prices growing? Many markets in the U.S. are overheated because supply has not been able to keep up with demand. How many homes enter the housing market depends on the construction output, whereas the availability of existing homes for purchase depends on many other factors, such as the willingness of owners to sell. Furthermore, growing investor appetite in the housing sector means that prospective homebuyers have some extra competition to worry about. In certain metros, for example, the share of homes bought by investors exceeded 20 percent in 2024.

The U.S. housing market continues to evolve, with the median home price forecast to reach 426,000 U.S. dollars by the second quarter of 2026. This projection comes after a period of significant growth and recent fluctuations, reflecting the complex interplay of economic factors affecting the real estate sector. The rising costs have not only impacted home prices, but also down payments, with the median down payment more than doubling since 2012. Regional variations in housing costs Home prices and down payments vary dramatically across the United States. While the national median down payment stood at approximately 26,700 U.S. dollars in early 2024, homebuyers in states like California, Massachusetts, and Hawaii faced down payments exceeding 74,000 U.S. dollars. This disparity highlights the challenges of homeownership in high-cost markets and underscores the importance of location in determining housing affordability. Market dynamics and future outlook The housing market has shown signs of cooling after years of rapid growth, with more modest price increases of 4.8 percent in 2022 and 6.5 percent in 2023. This slowdown can be attributed in part to rising mortgage rates, which have tempered demand. Despite these challenges, most states continued to see year-over-year price growth in the fourth quarter of 2023, with Rhode Island and Vermont leading the pack at over 13 percent appreciation. As the market adjusts to new economic realities, potential homebuyers and investors alike will be watching closely for signs of stabilization or renewed growth in the coming years.

Graph and download economic data for Market Hotness: Page View Count per Property Versus the United States in Middlesex County, MA (LDPEPRVSUSCOUNTY25017) from Aug 2017 to Feb 2025 about Middlesex County, MA; Boston; MA; listing; and USA.

Graph and download economic data for S&P CoreLogic Case-Shiller MA-Boston Home Price Index (BOXRSA) from Jan 1987 to Dec 2024 about Boston, NH, MA, HPI, housing, price index, indexes, price, and USA.

Financial institutions are entities that provide various financial services to individuals, businesses, and governments. The file is a comprehensive dataset for the year 2022, specifically for the state of Massachusetts, associated with the Academy Bank, National Association. It contains detailed information on various loan activities, including loan types, dwelling categories, and applicant demographics like ethnicity, race, and income. The dataset includes key metrics such as the census tract, county code, loan limits, and reasons for loan denial. Additionally, it provides demographic and economic indicators of the areas where these activities took place, such as population, minority population percentage, median family income in the MSA/MD, income percentage relative to the MSA, and housing unit characteristics. This data is valuable for analyzing lending patterns, compliance with housing finance regulations, and understanding the real estate market in Massachusetts.

The PIK Group was the largest mass residential developer in Russia in 2023, with an annual revenue of over 556 billion Russian rubles from apartment sales. The Samolet Group was another major market player, having earned more than 256 billion Russian rubles in sales in that segment.

Graph and download economic data for Market Hotness: Listing Views per Property in Hampden County, MA (LDPEPRYYCOUNTY25013) from Aug 2018 to Feb 2025 about Hampden County, MA; Springfield; MA; listing; and USA.

US Home Furnishing Market was valued at USD 392 billion in 2024 and is projected to reach USD 649 billion by 2031, growing at a CAGR of 6.5% during the forecast period 2024-2031

US Home Furnishing Market Drivers

Robust Housing Market: The demand for home furnishings is greatly impacted by the state of the housing market, which includes new home construction, existing home sales, and remodelling activities. A healthy real estate market encourages furniture and décor purchases.

Changing Consumer Lifestyles: Trends in home furnishings are influenced by changes in consumer choices, lifestyles, and demography. Modern, functional, and adjustable furniture is in high demand due to factors including family arrangements changing, urbanisation, and millennial homebuyers.

E-commerce Growth: More consumers now have access to a greater selection of home furnishings thanks to the growth of e-commerce platforms and online furniture merchants. Online furniture sales are fueled by convenience, affordable prices, and alternatives for home delivery.

Renovation and Remodelling of Homes: The need for new furniture, flooring, lighting, and décor items to modernise and improve living spaces is driven by homeowners who undertake renovation projects and interior remodelling.

Growing Interest in Interior Design and Home Decor: Social media sites like Pinterest and Instagram are contributing to the growing interest in interior design and home decor, which in turn is encouraging customers to spend money on fashionable and customised furniture for their homes.

The average price per square foot of floor space in new single-family housing in the United States decreased after the great financial crisis, followed by several years of stagnation. Since 2012, the price has continuously risen, hitting 168 U.S. dollars per square foot in 2022. In 2024, the average sales price of a new home exceeded 500,000 U.S. dollars. Development of house sales in the U.S. One of the reasons for rising property prices is the gradual growth of house sales between 2011 and 2020. This period was marked by the gradual recovery following the subprime mortgage crisis and a growing housing sentiment. Another significant factor for the housing demand was the growing number of new household formations each year. Despite this trend, housing transactions plummeted in 2021, amid soaring prices and borrowing costs. In 2021, the average construction cost for single-family housing rose by nearly 12 percent year-on-year, and in 2022, the increase was even higher, at close to 17 percent. Financing a house purchase Mortgage interest rates in the U.S. rose dramatically in 2022 and remained elevated until 2024. In 2020, a homebuyer could lock in a 30-year fixed interest rate of under three percent, whereas in 2024, the average rate for the same mortgage type was more than twice higher. That has led to a decline in homebuyer sentiment, and an increasing share of the population pessimistic about buying a home in the current market.

Graph and download economic data for All-Transactions House Price Index for Worcester, MA-CT (MSA) (ATNHPIUS49340Q) from Q2 1979 to Q4 2024 about Worcester, MA, appraisers, HPI, housing, price index, indexes, price, and USA.

Find in-season and off-season pricing for heating fuels, including heating oil, propane and wood price surveys by DOER. Links to electric and natural gas rates also available here.

The Back Bay district was the most expensive real estate market for office space in Boston in the third quarter of 2024. On average, the average asking rent was about 69 U.S. dollars per square foot of office space. Downtown Boston, the market with the largest inventory of office space among Boston districts, had the second highest rent, at about 68 U.S. dollars. The gross rental rate usually includes costs for utilities and other general maintenance expenses.