"Buyers have a larger selection of homes to choose from than they did last summer, and with mortgage rates lower than they were this spring, the market has become increasingly more inviting to those looking to buy," Wilk said. "Prices also have eased a bit from their peak over the past month, which suggests buyers are finding more room for negotiation, and that's giving many a renewed sense of optimism as we approach the fall market."
Jared Wilk, GBAR president, commented that, "last month was the busiest one we've had for home and condo closings in more than a year," indicating a resurgence in market activity despite ongoing lag behind historic norms.
Despite a significant rebound in single-family home sales, with a 14.7% increase year-over-year, the condominium market activity has remained relatively unchanged, reflecting complex market dynamics.
July saw 1,226 single-family homes sold in Greater Boston, marking the largest gain in single-family home sales volume for the month since 2021, illustrating a potential recovery trend.
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