Every year starts with the same questions. How’s the market? Is it up? Is it down? Is this a good time to sell? Buy? Told tight? Or keep doing nothing? Obviously personal circumstances rule, but here are some quick facts to mull over for Boston in 2016.
Inventory is tight; demand is very high. People want to be here and there’s not enough supply. This is the continuation of a 3 year phenomena. The job market has had a great recovery – 5% unemployment — which is bullish for the housing market. Economists are in agreement that the national real estate market has officially recovered, with consumer confidence is back to where it was in 1985.
Credit access is also slowly but significantly improving, mortgage rates are low, and the Boston area is one of the top ten economies in the country.
Basically, things have taken a sharp turnaround from 2008 and the climate is great. Get out there.