Median Price - Single Family Home

This plot shows the median price of single family homes in Massachusetts for the last three years. The data are freely available from the Massachusetts Association of Realtors. The seasonal patterns in price change are clear and consistent. The distinguishing characteristic of the plot is the flattening of prices in 2005 relative to previous years, showing a slowing of appreciation. My guess is that this represents the limits of affordability, coupled with the recent increases in inventory (more to come on this) and mortgage rates.

-DT