Massachusetts Housing Coalition, Inc.

Massachusetts home sales and prices are going up. Here’s what you need to know: - Massachusetts home sales and prices have increased in 2025 so far, with a 4.2% rise in single-family home sales and a 4.9% increase in median prices compared to February 2024. - Year-to-date, 4,765 single-family homes have sold, a 7% increase from the previous year, with the median sale price reaching $580,000. - Condominium sales also rose by 2.9% in February, with a median price increase of 4.3% to $511,000. Year-to-date condo sales are up 10.5%, with prices reaching $525,000. - Low inventory continues to drive up costs, contributing to Massachusetts’ ongoing housing affordability crisis. - Policymakers are relying on recent housing laws, including multifamily zoning requirements and expanded housing bonds, to address the estimated 220,000-unit housing shortage by 2030. - Despite high mortgage rates at 6.65%, the slight increase in inventory may suggest a minor loosening in the housing market. Read the full article here: https://lnkd.in/eQgiuEUM

Amherst is revising its Housing Production Plan (HPP) with Barrett Planning Group to address affordability for low- and moderate-income residents. Here's what you need to know: - The Housing Needs Assessment highlights issues like an aging housing stock, high rent prices, and a growing student housing crisis. - Amherst's housing production increased by 10.7% in the past decade, but demand still outpaces supply, driving up costs. - Over 43% of Amherst households are cost-burdened, with student renters among the most affected. - Public engagement efforts, including community surveys and forums, identified priorities like senior housing, densification, and missing middle housing. - Proposed strategies include incentivizing affordable housing development and avoiding policies that divide students and non-students. - Schools in the area are exploring partnerships to expand and modernize campus housing to relieve regional housing pressures. - Ongoing and planned housing projects aim to increase affordability, with key stakeholders working to implement effective solutions. Read the full article here: https://lnkd.in/eX_B6Zab

This week in housing: why climate insurers across the US are running for the hills, Healey announces a credit towards energy bills among high costs for MA residents, and a new supportive housing development opens in JP. Click the link to read the latest in our LinkedIn article series, This Week in Housing, where we cover important housing news.

The U.S. has a housing shortage of nearly 4 million homes despite increased construction, a study finds. Here’s what you need to know: - In 2024, over 1.6 million homes were built, the highest level in 20 years, but the gap persists due to past shortages and high demand. - Younger buyers are hit hardest as homeownership remains unaffordable for mid-to-average incomes. - The South has the largest housing gap by units, while the Northeast has the largest relative shortage. - Inventory improved in 2024 but remains below pre-pandemic levels, keeping demand constrained. - Barriers like zoning laws, permitting, and material costs make affordable housing development difficult. - At the current construction pace, it would take 7.5 years to close the housing gap. Read the full article here: https://lnkd.in/eRPvFyiA

A new five-story supportive housing development at 3368 Washington Street in Jamaica Plain has opened, providing housing for formerly homeless individuals and low-to-moderate-income families. Here’s what you need to know: - The building, designed with dignity in mind, includes 202 units: 140 supportive housing units managed by Pine Street Inn and 62 affordable apartments managed by The Community Builders. - Residents have access to 24/7 security, supportive services, community spaces, outdoor plazas, fitness facilities, laundry rooms, and EV charging stations. - Massachusetts faces a growing homelessness crisis, with a 74% increase in family homelessness between 2023 and 2024, making projects like this essential. - The building’s design prioritizes quality and community integration, and new residents have found stability within the development. - The project received strong community support, and local leaders see it as a model for addressing chronic homelessness. Read the full article here: https://lnkd.in/e2sg-NtX

Governor Healey announced a statewide “energy affordability agenda” that she said would help lower the cost of energy bills for MA residents statewide. Here’s what you need to know. - The plan includes a $50 credit on electricity bills that most residents will see within weeks, as well as savings for households that use heat pumps.? - Spokespeople for two of the largest energy and gas providers, said they support the state’s efforts and will continue to work with the administration to keep energy affordable.? - The credit comes alongside the Department of Public Utilities’ decision to temporarily reduce gas bills by about 10% through March and April, estimated to help customers save $220 million total.? - The state is also working to expand cheaper winter electricity rates for residents with heat pumps, bolstering the state’s clean energy goals.? - Energy and Environmental Affairs Secretary Rebecca Tepper said her team is working “to find innovative ways to finance important programs without putting it on the bill,” and reduce price volatility to allow residents to better budget.? - Healey believes building more renewable energy projects, reducing the focus on fossil fuels, and telling utilities to enter into more long-term, fixed-price contracts could also help stabilize and lower price. Read the full article here: https://lnkd.in/eN5Tz3xY

Frequent climate-related disasters over the past few years have broken traditional risk models, leading insurers to withdraw from high-risk states like Florida and California. Here’s what you need to know: - Rising reinsurance costs are driving up premiums, forcing homeowners to drop coverage or rely on failing state-backed programs. - The National Flood Insurance Program (NFIP) is $20 billion in debt, and proposed federal cuts to FEMA could worsen the crisis. - Without insurance, home values in high-risk areas are plummeting, and mortgage lenders are pulling back, leaving some properties effectively stranded. - Investors and cash buyers are acquiring properties in disaster-prone areas, deepening socioeconomic divides. - Political responses vary, with conservative states pushing deregulation and incentives, while liberal states enforce stricter insurance regulations. - The crisis signals broader climate adaptation challenges, with unmanaged retreat leading to abandoned neighborhoods and economic decline. Read the full article here:https://lnkd.in/gVcWRXCH?

This week in housing: Cambridge's sweeping housing reform can set an example for other cities to follow, reports find that the Boston Housing Authority overlooked many issues especially communities with marginalized populations, and DOGE slashes funding for a Holyoke housing group and others. Click the link to read the latest in our LinkedIn article series, This Week in Housing, where we cover important housing news.

A few weeks ago, Cambridge passed a law eliminating single family zoning, seen as one of the most sweeping housing reforms in any city across the US. Here’s what you need to know: - The reform could create nearly 5,000 new housing units, a massive increase from the previously expected 350 units over 15 years. - Years of advocacy by pro-housing groups like A Better Cambridge helped elect supportive city council members who championed the changes. - The reform faced opposition from residents concerned about design, historic preservation, and displacement, but the council ultimately approved it with some compromises. - Experts say that the new laws unlock potential for development on sites that otherwise would not have been able to build a significant number of units or would have been constrained by community processes. - Cambridge’s move is seen as one of the boldest pro-housing reforms in the US, surpassing efforts in other cities. Read the full article here: https://lnkd.in/gJeAJWvi

Worcester needs over 12,000 new housing units in the next 8 years, including 11,617 rental units and 687 owner-occupied units in order to reach housing demand. Here’s what you need to know: - There is a shortage of both low-income and market-rate housing, increasing competition for moderately priced homes and driving up costs. - Demand is highest for smaller households, with most needed rental units for one- and two-person households. - Nearly 40% of Worcester households are cost burdened, with half of renters spending over a third of their income on housing. - The city’s draft housing plan sets goals to expand affordable housing, revitalize aging homes, reform regulations, address housing inequities, prevent displacement, and improve transportation. - The plan will be presented to the City Council on March 4, with adoption votes scheduled for April 30 and May 13. - Worcester’s housing shortage reflects broader trends in Massachusetts gateway cities, which collectively need tens of thousands of new homes to meet future demand. Read the full article here: https://lnkd.in/ewA7m9KT