Moody’s Economy.com and Fiserv Lending Solutions have estimated where real estate prices will be, a year from now.
The Boston-Quincy real estate market, an ill-defined area (it’s a Census Bureau thing) is estimated to drop 1.7%, next year. In 2008, prices should increase a nominal 0.2%.
(I can live with that!)
This puts the area 78th out of the top 100 real estate markets in the United States.
Shockingly, many areas of the country will see higher prices both next year and the year after; the McAllen-Mission area of Texas will see a 8.5% increase on prices in 2007 and another 9.8% increase in 2008, according to Moody’s!
Of course, just as important, if not more important, is the volume of sales over the next several years … but I haven’t seen any estimates of that.
Source: Best and worst real estate markets – Fortune magazine, quoting Economy.com
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