As Massachusetts grows more competitive, it will become more difficult to find a real estate agent who will take on clients who need help, as the state struggles with the effects of the recent wildfires.
“The real estate industry has been trying to come back, but it’s really hard to recruit,” said Michael Eberhart, chief operating officer for the state real estate association.
He said he thinks the industry is working to find people who are willing to take on those who need the most help.
In a state that has been the nation’s No. 1 market for real estate for decades, Boston’s real estate market has remained resilient.
But, as Massachusetts is now struggling, the number of new listings in the state’s real-estate market is at a new low, according to data from the Realtor.com.
The median price of a home in the Boston area is now $1.2 million, down from $1,972,928 in October 2017, according data from Realtors.com, which tracks real estate listings.
That’s a 25 percent drop from a year earlier, and it’s still a sharp decline from last year.
The median price in Boston was $1 million in September 2017, up from $938,000 in October.
The average price of homes in the city has dropped by more than a third from the peak of $1 billion in 2000, according a report from the Boston Consulting Group.
The report, which includes Boston’s suburbs, also found that rents have also been falling, but only by a modest amount.
Rents in the City of Boston fell by about 10 percent last year from the year before.
Rents in Boston have declined by nearly 12 percent from the start of the year to a year ago, according the report.
But Boston has a larger housing shortage than any other big metro area, with about 1.7 million people living in the metro area.
According to the RealtyTrac data, Boston is home to roughly half of all the new homes sold in the U.S. this year.
That number could grow to more than half in 2020.
The state’s largest cities are in Boston and Cambridge, and many residents commute from the suburbs.
But the state is home more to middle-class households, who have chosen to stay in cities to work and raise children.
Realtor.com said Boston and New York City are among the most expensive places to live, with median rents averaging $1 for a one-bedroom apartment.
Boston has the second-highest median price for apartments, with $119,000, up 22 percent from $1072,000 last year, according Realtytrac.
New York City, on the other hand, has the lowest median price per square foot for homes, at $532 per square feet.
That price is also nearly a third lower than Boston, which has the third-highest price per foot.
Realtors said the decline in demand for housing in Boston could help slow the recovery.
The number of properties in the region that are affordable to people making $40,000 a year or less is at its lowest level in nearly three years, according Realtor.
But it is still above the average level, which rose by 7 percent in October to $39,868.
Realtytrac also found there are more people moving to the state than moving out.
And that could have an impact on the demand for new homes.
People leaving for the Northeast and other states may be more willing to move in a state with a large supply of housing.
That would help boost the number, which is now at the lowest level since March 2017, the company said.
Real estate agents are also increasingly relying on technology to help them navigate the state.
Realtorexpress.com is a marketplace for people who want to buy or sell real estate in Massachusetts.
The company is also expanding to other states and is planning to offer an app for iOS and Android.
The company said it expects that number to grow, too.