According to a recent study by SmartAsset, Middlesex County has the fourth strongest purchasing power in Massachusetts. The study examined the cost of living expenses balanced with average income.

Relentless supply constraints and home price growth outpacing wages are testing the patience of homebuyers this year, but existing-home sales are still on track to come in at their highest pace since 2006, according to an economic forecast forum at the 2016 Realtors® Legislative Meetings & Trade Expo.

Among the topics addressed were: the growing burden repaying student loan debt is having on young adults, the housing market and the overall U.S. economy.

After the housing market’s best first quarter since 2007, sales this year are expected to come in around 5.41 million, a 3 percent boost from 2015. This report represents a boom in the housing market, and a solid foundation as the spring buying season ramps up. If this growth continues, 2016 could be the best year for the real estate market in a decade. 

Single women are coming up in power, wealth and market share, quickly becoming one of the most important demographics in the increasingly fragmented real estate market.  

The new Forbes ranking of the wealthiest individuals declared Abigail Johnson, CEO of Fidelity Investments, as the wealthiest individual in Massachusetts with a net worth of $14.7 billion. 

In designing homes, there is a need for flexibility to make it financially plausible for millennials to afford ownership. That means a lower price point and space to rent out while the millennial buyer builds equity. One solution is the “responsive home” built in Henderson Nevada as a collaboration between TRI Pointe Group’s Pardee Homes and Hanley Wood’s Builder Magazine.

New home sales data released this week showed that sales were 16.6 percent higher than March when comparing the seasonally adjusted annualized rates, and 23.8 percent higher than last year.

This news comes from estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development.

One of the greatest real estate speculations this season has been the question of where Jeff Immelt, the CEO of General Electric, will move when the organization moves to Boston this late spring.

Well, according to public records, Immelt and his S.O., Andrea, are under contract to buy a 3,565 sq. ft. triplex home at 36 Commonwealth Ave., a 4 room property found a short distance from the Boston Public Garden. 

47 Raymond Street in Cambridge, a beautiful 7,258 sq. ft. residence has just been made available for sale in the market for an asking price of $11,500,000.

The interior consists of 15 rooms and 5 bedrooms with state-of-the-art amenities. The house has an elegant finish to it with state-of-the-art heating, cooling and media technologies installed throughout the home. The 4,000 bottle wine cellar, heated driveway and reflecting pool complete the house.

Despite a rapid increase in home prices, mortgage rates have dropped to their lowest point in three years. As of Tuesday, the average rate for a 30-year conforming mortgage nationally was 3.6 percent, down 2 points from last week. This drop means a 6 percent increase in buying power.

There are disadvantages to lower mortgage rates however. Credit availability declines marginally as the rates decline. With a small margin, lenders become more risk averse so indicators of credit tightness like the average FICO scores have gone up as rates have gone down.

Bicycle-friendly amenities are contributing to a surge in property values  for communities everywhere, marshaled by developments in urban centers and suburban outposts that accommodate “active” transportation. At its core, the bicycle boom is about people choosing a lifestyle that gives them more options and requires less dependence on motor vehicles. Through supporting bike infrastructure, real estate professionals who influence the built environment [buildings, neighborhoods and streets] can play a significant role in creating healthier, more sustainable communities.

Kitchen renovations are expensive but luckily there are small, inexpensive tweaks you can make to emulate the same “new space” effect. Here are five changes you can make that will freshen up your kitchen without breaking the bank.

Governor Charlie Baker is proposing an 8% increase on state spending for affordable housing for next year, and an 18% increment throughout the following five years, to a sum of $1.1 billion.

Baker proposed utilizing a sizable part of the new supports in the state’s capital spending plan to protect a portion of the 3,300 affordable residential units that are set to end up being priced at the market rate in the near future. The arrangement would finance more projects for affordable housing, for low-income families and for development projects in the state.

The Greater Boston Association of Realtors has released the local market updates for March 2016 and the real estate market in Brookline is looking healthy!

The supply of homes for sale in March was way up over February, indicating that more sellers are deciding to list their homes. And, while prices were also up over last year, the increases are seemingly harmless to sales.