And more good news … sort of
Boston Condos for Sale
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And more good news … sort of
Boston condo for sale interest rates on mortgages are trending downward, which is good news for home buyers and the rest of us too.
Mortgage rates were at around 7.75% a month ago and are currently averaging 7.22%. [FreddieMac Mortgage Rate Surevy]
The rates are still ridiculously high and should give responsible home buyers reason to pause and consider.
In last week’s real estate news, there were a lot of headlines about “falling mortgage payments”. High-interest rates indeed translate into high monthly mortgage payments.
When rates go down so do monthly mortgage payments, however, if you currently have a mortgage your payments are not going to go down. They will stay the same.
Boston condos for sale and the bottom line
In the Christian faith this period of time is called Advent .The term Advent Latin adventus “coming; arrival.”
As it applies to the Boston condo for sale market many are waiting for the arrival of lower interest rates in 2025.
Source: Wikipedia
Updated: Boston Condo For Sale Website Blog 2023
Byline – John Ford Boston Beacon Hill Condo Broker 137 Charles St. Boston, MA 02114
Updated: Boston Condos for Sale Blog 2023
Byline – John Ford Boston Beacon Hill Condo Broker 137 Charles St. Boston, MA 02114
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Good news for Boston condo buyers, perhaps not for Boston condo sellers.
Updated: Boston Real Estate Blog 2022
Click to View Ford Realty Inc., Google Reviews
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For months now, homebuyers have been in a Hunger Games–like battle to find a new house, as a paucity of listings has resulted in almost instantaneous offers for sellers. But the tide might finally be starting to turn.
A report from Redfin finds that the number of homes newly listed for sale has surpassed 2019 levels for the first time since the start of the year. Many of those sellers, though, might be in for a rude awakening if they’re hoping to benefit from the instant sales of earlier this year as buyer demand continues to slip.
Pending sales posted their smallest year-over-year increase in almost a year, according to Redfin. And requests for home tours were lower.
Mortgage rates are still low, but buyer frustration has set in. Only 32% of consumers believe it’s a good time to buy a home, according to Fannie Mae’s Home Purchase Sentiment Index for June. A growing number of properties for sale, though, could spur people off the fence.
New listings for homes were up 4% for the week of July 4 compared to the same period last year. There’s still a gap to cover, though, as active listings are still down 32% from 2020. And even though there are more listings, you still won’t be able to linger too long on making a decision. Most houses are on the market an average of just 15 days right now, compared with 39 a year ago.
Still, it’s hardly a buyer’s market. The median home sale price is up 22% over a year ago—and asking prices for newly listed homes are up 12% from this time in 2020.
This story was originally featured on Fortune.com
Boston Condos for Sale
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The Reuters piece here and the BusinessWeek piece here look like they contradict each other regarding the latest S&P/Case-Shiller report on housing. But they appear to say the same thing in different ways: The housing crunch seems to be easing nationwide.
The confusion comes from whether they look at seasonally or non-seasonally adjusted numbers.
The bottom line: There are signs of improvements.
Your thoughts? Are we reading this wrong?
