Perhaps a better indicator of the luxury sales market might be the South End. The Back Bay numbers are inflated with old closings on buildings just now receiving their occupancy permits.

According to Redfin there are currently 46 million plus South End (02118) properties for sale. There have been no million + sales in March, only one in February, and a grand total of five during the last three months.

What’s your take? are buyers becoming reluctant to pay top dollar to live in the hood….

I echo some of your sentiments. Kevin admits now that we’ve been through “four tough years.” Funny how every thing is in the past for them. His quotes mean nothing to me! As you said, he and his peers never said buyers had leverage so the spin is interesting now.

– snort –

Hmm, now there’s an incredibly self-serving prediction. I’m surprised he didn’t forecast that real estate agent commissions would be rising as well. Blatant attempt to “spin” the market and try to scare buyers for the benefit of sellers. Nice try. Talk to me in June, then we’ll see.

This statement is also a bit confusing since most of the RE agents have been vehement that low inventory has prevented buyers from having leverage. Now they admit it? Interesting.