🔥 Greater Boston Tops as 2024's Hottest Housing Market in the Country 🔥

Greater Boston stands out as the nation's hottest housing market as of February 23, 2024, according to Altos Research. With an Altos Market Action Index score of 60.59, it surpasses other areas like San Francisco. The robust activity reflects strong buyer and seller engagement, despite a significant inventory shortage.

Active single-family listings in the metro area have plummeted from 4,537 pre-pandemic to just 1,753, leading to competitive bidding wars and rising home prices. The neighboring New Hampshire market faces similar constraints, with listings dramatically reduced from pre-pandemic numbers.

Interest rates have recently stabilized, drawing more buyers into an already tight market. Despite high prices, with the median list price at $879,000, buyer demand is unyielding, driven by job growth and a low unemployment rate.

With the spring season approaching, more inventory is expected, but the market's competitiveness is likely to persist. Buyers should be prepared for a fast-moving market environment.