The Warren Group revealed troubling trends in Massachusetts' housing market, ranking it the 46th least affordable state based on sales price-to-income ratios. With a median sales price of $615,000 and rising high interest rates at 7.04%, home buyers face a challenging landscape where supply is limited and demand remains high. The overall sales price increased by 7.9% in 2024, exacerbating affordability issues as buyers increasingly seek alternatives in nearby states like Rhode Island, which are also experiencing rising prices.
The Massachusetts housing market continues to struggle with affordability as the median sales price hits a record-high, pushing home buyers towards lower-cost states.
Massachusetts ranked 46th in affordability nationwide, leaving home buyers to navigate a challenging market with steep prices and high interest rates.
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