Jay Fitzgerald says that Boston homeowners are
pulling their condos off the market because they can’t find buyers.
I agree. However,
it’s a perfect example of simple economics and the free market. I think the majority of those
pulling their places off were not being forced to sell, and have decided to hold off on
Again, the slowing of the market sucks if you’re someone who has to sell, due to
job loss/relocation or lifestyle change.
Many Boston condo owners appear to have pulled
units off the sale block rather than sell for lower prices in a soft market, according to housing
data and experts.
The inventory of condos sitting unsold remains high compared with previous
years, according to data from the Listing Information Network of Boston.
week, there were 1,977 condo units listed for sale in the Greater Boston area, down from a November
peak of 3,186, LINK said.
Complete article: Condo sellers pull units off block as market
cools – by Jay Fitzgerald, The Boston Herald