Boston luxury condo market on hold
Updated: Boston Real Estate Blog 2022
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As the uncertainty over who will be the next president of the United States drags on, it’s not just the country’s psyche that’s on edge. Not knowing whether President Donald Trump will be sworn in for a second term or Vice President Joe Biden will become the next commander in chief is hurting the downtown Boston housing market as well.
The downtown Boston real estate market is on pause
The market is on pause in many places as Americans wait to see who will ultimately prevail, real estate professionals, say. Regardless of their political affiliation, sellers are holding off on listing their homes while buyers are delaying home closings, particularly in the cities. And that hesitation could be pushing mortgage interest rates down even further.
This situation could extend until a definitive victor is called in this fiercely divided election—and with the looming possibilities of recounts and lawsuits, that could mean days, weeks, or even months.
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