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Mid-priced homes harder to find?

Posted by Scott Van Voorhis March 8, 2013 09:21 AM

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OK, we all know by now the number of homes for sale is down across Greater Boston. Anybody out there trying to buy a home right now can see it firsthand.

But especially hard hit has been the number of listings for homes in the middle of the market, Zillow reports.

Homes on the market in the $320,100 range fell by a whopping 28 percent in February, the online real estate firm reports.

That's compared to a 24 percent drop in listings for top tier properties worth $538,000 and up, and a 19 percent fall in the number of lower tier properties, with a median price of $201,500, according to Zillow.

Overall, the decline in inventory appears to be hitting the Boston market particularly hard, with the market nationally seeing a 17 percent decline in home listings.

"The supply of for-sale listings continues to dry up, driven in part by potential sellers trapped in negative equity and homeowners that won't sell out of fear they won't be able to find a suitable home to buy later," said Zillow Chief Economist Stan Humphries in a press release.

So what's a middle class buyer to do?

This blog is not written or edited by Boston.com or the Boston Globe.
The author is solely responsible for the content.

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About boston real estate now
Scott Van Voorhis is a freelance writer who specializes in real estate and business issues.

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