Middlesex Savings Bank continues to work with the MetroWest Economic Research Center (MERC) at Framingham State University on the MetroWest Well Being Economic Chart.
The latest data shows that between the second and third quarters of 2016, there were several key changes, including:
- Median home prices increased 3.6 percent year over year ($484,212 to $501,774) despite a decrease of 0.57 percent from Q2 2016, which follows a 13.4 percent increase comparing Q1 2016 to Q2 2016
- Unemployment rate for the region was 3.0 percent at the end of Q3 2016. This demonstrates a continued decrease over the past two quarters
- Cost of Living increased 3.1 percent, which follows the first quarterly decrease since the MetroWest Well Being Economic Chart was published
The report is made possible by a collaboration between the Middlesex and FSU. The report disseminates quarterly economic information that is unique to the Greater MetroWest region, it measures three economic indicators – unemployment rates, cost of living, and existing single-family home values using median home sale prices. The MERC analysis has proven critical for regional and town planning as well as for the retention and recruitment of businesses.