The lack of housing inventory has caused 'substantial competition' in Worcester, frustrating buyers, according to Cherie Benoit, president of the Realtor Association of Central Massachusetts.
Worcester's market benefited from the rise in remote work and higher prices in Boston, making it more competitive, Chris Lewis, head of research at FinanceBuzz said in an email to Boston.com.
Prospective home buyers in places like Boston look toward Worcester for price relief, but now prices are increasing there faster than in Boston, noted Michael Barbera, director of the Realtor Association of Central Massachusetts.
Affordability's a problem in Worcester, but finding a New England city with similar amenities and lower housing costs is hard, as stated by Barbera, the principal broker at BA Property & Lifestyle Advisor.
#housing-inventory #housing-market-competitiveness #affordability #remote-work-impact #boston-housing-prices
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