The following excerpts are from the recent release of the Fed Beige Book. It shows a luke warm outlook for the Boston real estate market.
Contacts report sellers pricing competitively in order to attract bids and buyers negotiating even lower prices. Meanwhile, listings continue to climb in the region, but most contacts did not express serious concern about the level of inventory reached.
Outlooks for the remainder of the year appear largely pessimistic, with contacts expecting a continuation of slow activity. Most anticipate sales for this year will not reach last year’s total and forecast little improvement over the next one to two years.