Banker & Tradesman: May 18, 2020

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TOP LOAN ORIGINATORS SEE PAGE 10

THE FINANCIAL SERVICES AND REAL ESTATE WEEKLY FOR MASSACHUSETTS BY THE NUMBERS

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County close-up: Hampshire Spotlight: Plainfield

IN PERSON

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Douglas Reed has ambitious plans for the growth of Meridian Assoc. as he takes over its leadership during a global economic crisis. The business consultant and author is the new president and CEO of the civil engineering firm, which has 35 employees offices in Beverly and Westborough.

WEEK OF MONDAY, MAY 18, 2020

RESIDENTIAL REAL ESTATE BY THE NUMBERS

$331,500 The year-to-date median single-family sale price in Taunton. See Scott Van Voorhis’ column on page 3. Source: The Warren Group’s Statistics Module

3 The move to 3D home tours during the pandemic could be permanent. See Heather Beasley Doyle’s story on page 18. Source: Brian Dougherty

$1 billion The cost of building South Coast Rail. See Scott Van Voorhis’ column on page 3. Source: MassDOT

18.2 percent New listings in Greater Boston are up 18.2 percent week-over-week for the seven days ending May 3. See James Sanna’s story on page 9.

$6.5 million The sale price of the most expensive home in this week’s Gossip Report. See page 9. Source: The Warren Group

20 percent The number of listings are up 20 percent in the priciest slice of Greater Boston’s housing market. See James Sanna’s story on page 9. Source: Zillow Group

8,149 square feet

TOP LOS

LOAN ORIGINATORS

GOT CREATIVE IN HOT MARKET Strong Demand Required Adaptations BY DIANE MCLAUGHLIN BANKER & TRADESMAN STAFF

W

hile mortgage interest rates at historic lows have driven a monthslong refinancing boom that continues amid the coronavirus crisis, that does not mean purchase activity has dropped off. And with Massachusetts still lacking the inventory needed to meet buyer demand, loan originators have had to get creative in how they work with prospective homeowners. “I probably wrote more preapprovals in 2019 than I ever had in my 22-year career,” said William Murphy, Auburn branch manager for Fairway Independent Mortgage. “What that means is there was still a shortage – we had the buyers, just not enough inventory.” While the coronavirus pandemic has created uncertainty for the 2020 residential mortgage market, top loan originators have seen some of 2019’s strong purchase activity carry over this year. Continued on Page 12

The size of the largest home in this week’s Gossip Report. See page 9. Source: The Warren Group

1.07 million The number of initial jobless claims filed in Massachusetts since the coronavirus pandemic began. See James Sanna’s story on page 9. Source: Executive Office of Housing and Workforce Development

Unless otherwise noted, all data is sourced from The Warren Group’s Mortgage Market Share Module, Loan Originator Module, Statistics Module and/or proprietary database. For more information please visit www.thewarrengroup.com/business/ datasolutions.

COMMERCIAL INTERESTS

R E S I D E N T I A L R E S TA R T

Planned Line Opens Bristol County to Greater Boston Workers

New Listings Tick Up on High and Low Sides of Market

South Coast Rail Could Help Ease Housing Crisis By Scott Van Voorhis | Banker & Tradesman Columnist

Commercial Real Estate PAGE 3

Greater Boston Housing Market Shows Signs of Life By James Sanna | Banker & Tradesman Staff

Residential Real Estate PAGE 9


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