BOSTON (WWLP) – The housing crisis in Massachusetts is affecting everyone. Governor Baker said Monday that this is one of the biggest issues the state is facing right now.
According to the Massachusetts Association of Realtors, the inventory of single-family homes for sale was down 50 percent in January. However, the prices of those properties hit a record high.
The Warren Group released a study on this matter, noting that the median home sale price increased 5.4 percent in just one year. Back in February of 2021, the average price of a home in Massachusetts was $446,000, today that number is upwards of $470,000.
Governor Baker and legislative leaders acknowledged just how bad the problem was during their leadership meeting on Monday.
“There’s more to be done on housing and you’ll probably see us put something else in front of the legislature during this session, to add to the resources that are already available there,” said Governor Baker.
Baker noted that there are several state run programs to help low income residents find housing. He also said there are programs in place to help young people that are trying to buy their first home. If you are having trouble finding housing, or want to see what programs are available to you, you can head to the Mass.gov website.
The Governor and legislative leaders believe that more needs to be done on this issue because the housing market is out of control right now.