“There were 11,184 homes available for sale on the local Multiple Listing Service at the end of June, a number that has been slowly but steadily rising since March after beginning the year at historic lows. This — coupled with rising mortgage interest rates and buyer fatigue has led some people to suspend their home search — is easing the pressure on those consumers still in the hunt.
Stacey Alcorn, broker/owner of LAER Realty, headquartered in Dracut, said she has seen a significant shift in the market over the past 60 days.
“There’s definitely less competition and more inventory,” Alcorn said. “Six months ago when we were doing open houses, it was not uncommon to have a line of people show up at the house. It was like crowd management. Now, we’re back to open houses like we had three years ago, where you’ll have maybe seven to ten individuals or families come though.”.
