Don’t wait for home prices to fall!
If you’ve put your plans on hold hoping home prices will fall, you should know that inventory remains a problem with both Boston and the suburbs. New condo listings year-to-date in Boston are down 27.99% vs. last year, and closed units are down 31.57%. And with inventory down, it also means that home prices will continue to go up.
According to Selma Hepp, Chief Economist at Corelogic, “under supply of housing will continue to heighten market competition and put pressure on prices in most regions.”
If you are looking to buy a home now, understand that it is a seller’s market out there right now. When inventory is low, sellers get to dictate how much they want for their properties. If inventory does not improve over the next few months, home prices will only increase more.
“… multiple offers are returning on a good number of properties.” Lawrence Yun, Chief Economist, NAR.
Buying a home can be a daunting task, and a stressful journey, especially for first-time home buyers. But it need not be! Let the team at Moving Greater Boston help you navigate the journey. Our expert team of highly experienced agents are ready, able and willing to provide you with exceptional service and support all the way! We will listen to your needs, do our best to find the best-fit property for you, and will help negotiate the best offer on your behalf.
So take that first step now. Connect with us, and let us go on this exciting journey, together!