A few weeks ago, the mounting number of coronavirus cases in downtown Boston seemed to be having a little affect on the Boston real estate market. The “spring frenzy” predicted by brokers at the beginning of the year was in full swing — and even if not quite as frenzied as some had hoped, buyers were still attending Beacon Hill open houses.
But uncertainty — over the stock market the increase in coronavirus victims and just recently rising mortgage rates, to name just a few factors — has started to impact the attitudes of Beacon Hill condo buyers and sellers.
According to new data from the National Association of Realtors:
Interest in homebuying nationwide has contracted sharply in recent days. Nearly half of the agents it surveyed said homebuyer interest has decreased due to the coronavirus outbreak, up from 16% the previous week.
As one of my clients stated:
“With all of this uncertainty I’m just on hold for right now.”
Many of us have volunteered to shelter in place, so you might be out of touch and want to know what’s going on in the Boston real estate market?
You may see less Beacon Hill condo listings in the short-term
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