Home Sales Show Increase of Over 20

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Since areas have opened up after the lockdowns during the spring months home sales have been on the rise. For a period of three months home sales had declined as restrictions were in place, but now they have been fast increasing with a 20.7% boost seen in the month of June according to a recent report by the National Association of Realtors (NAR). All of the 4 major areas of the country have seen this significant growth.

Existing home sales are defined by completed sold transactions of condos, co-ops, single families and townhomes. Sales of these properties had shown a 20.7% jump in June from the previous month in May. This was a drastic resurgence yet by comparison to last year numbers are still down by 11.3%.

“The sales recovery is strong, as buyers were eager to purchase homes and properties that they had been eyeing during the shutdown,” said Lawrence Yun, NAR’s chief economist. “This revitalization looks to be sustainable for many months ahead as long as mortgage rates remain low and job gains continue.”

Prices of Homes

The median price of all types of properties has also shown an increase in all 4 major areas of the United States. Prices of homes were up by 3.5% over the year before which now marked the 100th month in a row for price increases.

Inventory Numbers

Housing inventory is still very low. The limited number of homes on the market has been a constant issue for a while and the pandemic only exacerbated this. Inventory for the month of June by comparison of the same time last year is down by 18.2%.

Average Number of Days on Market

The average number of days on the market for homes in June was 24 days. This was lower than May at 26 days and also down from 27 days in June of 2019.

Mortgage Rate Trends

Home loan rates continue to be extremely low. Per Freddie Mac, the average commitment rate was 3.16% in June for a 30 year conventional fixed rate loan. By comparison the average for all of 2019 was 3.94%.

Beth Dickerson

Boston, MA

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About The Author

One of Boston’s most reputable real estate brokers, Beth Dickerson has achieved more than $2 billion in sales and thousands of successful real estate transactions over her nearly thirty-year tenure. Beth has received national acclaim from the real estate industry and represents some of the most prestigious residents and properties across Massachusetts. Her enduring record as a top producer comes from the intuitive gift of sensing her clients’ needs. She has built a business that is referral-based at its core—a testament to her relationship-driven approach and penchant for exceeding expectations. It is this nuanced expertise that Beth leverages to guide many of her clients-turned-friends through some of the greatest milestones of their lives.

Beth was the proprietor of her own real estate company before joining the residential division of R. M. Bradley in 1993, where she was a top producer for more than a decade. In 2003, she founded her own boutique real estate firm, Dickerson Real Estate, before merging with Gibson Sotheby’s International Realty in 2007. Today, Beth attributes her success to her comprehensive marketing and advertising strategies, exclusive contact network, and unparalleled insight into neighborhoods like Back Bay, Beacon Hill, the South End and Waterfront. With an understanding that no two clients are alike, she works with clients in all phases of life—from first-time buyers to luxury developers, seasoned sellers and beyond. Beth offers clients the resources to aggressively market their property locally, nationally and globally, and her attention to detail, drive and enthusiasm are unmatched.

Beth has appeared in prestigious media outlets including The Wall Street Journal, Mansion Global, The Boston Globe, and Boston magazine, and was prominently featured as Greater Boston’s real estate expert on WCVB Chronicle in 2020. She has had the honor of serving as President of the Downtown Council of the Greater Boston Real Estate Board. For over ten years, she has been a Co-Chair and Committee Member for the Massachusetts General Pediatric Hospital for Children’s Storybook Ball. She serves as a Board Member of the Community Music Center of Boston and a member for the Perkins School for the Blind, Emerald Necklace Park Conservancy, Justine Liff Luncheon, Youth Villages and the Boys & Girls Club of Boston, among dozens of other organizations throughout the Boston area.

A long-time resident of Boston’s Back Bay, Beth was an active member of the community as she raised her two children: she served as treasurer of the Clarendon Street Playground and was an avid supporter of the Hill House Community Center.