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Red-hot Western Massachusetts housing market has the pros asking, ‘Are these prices even realistic?’
SPRINGFIELD — Pat Wheway, a broker associate for Coldwell Banker, listed a home — a 1,500-square-foot split level in Springfield — at 9 p.m. on a Thursday and got her first phone calls before 10:30. “They wanted to be the first ones in that house in the morning,” she said. “It’s very busy.” Interest is especially high for homes priced for first-time buyers, Wheway said. The Springfield house garnered 21 offers in three days. Some potential buyers these days are so anx...
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Nationally median sales price are expected go up about 5.4% in 2023, according to Realtor.com. But it could be even more for Massachusetts buyers. The real estate website released its 2023 housing market predictions Wednesday, stating that mortgage rates will be above 7%, rents will outpace home prices and overall home sales will decline. It also made predictions for 100 of the largest local markets in the United States. In Boston, Realtor.com predicts that sales growth will...
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SPRINGFIELD, MA (WGGB/WSHM) - Average mortgage rates have climbed to over seven percent this week, which is the highest in decades. “With interest rate hikes continuing, that means it’s going to become less and less affordable and out of reach for people to be able to buy homes here in the Pioneer Valley,” said Kevin Sears with Sears Real Estate. On Friday, Sears discussed climbing mortgage rates, which are now over seven percent, which is the highest since 2002. That is adding t...
