2015 Massachusetts Housing Report

Sales up 9% and Prices up 3.6%

The Massachusetts housing market experienced robust growth in 2015. It was by far the biggest year for home sales in 9 years. There were a total of 83,961 homes sold in Massachusetts in 2015, which is a 9% increase over 2014 when there was 76,494 homes sold. The last time we saw greater sales in a given year was in 2006 with 88,820 homes sold across Massachusetts. This noteworthy increase in home sales is a result of several contributing factors such as; mortgage guidelines loosening throughout the year, interest rates remained low which continued to give buyers more purchasing power, home equity increased giving sellers more flexibility to sell, and the overall local economy was strong. There is no longer any doubt that the housing recovery is in high gear. Below is a graph that illustrates home sales per year since 2005.

2015 Sales by Month
2015 got off to a slow start; January home sales were down following a Slow Fall Market in 2014 combined with record breaking snow fall which delayed the start to the year with home sales down in March, April and May. Once the snow finally melted home sales were up every month for the remainder of the year. Below is a graph that illustrates home sales per month in 2014 as compared to 2015.

For the rest of the report, including information by county, home prices, inventory, and a forecast of 2016, visit our website here!