Thoughts on the Fed Chairman comments on housing

Boston Real Estate for Sale in 2023

Loading...

At the Fed’s first announcement of the new year, at the end of January, it was implied that rate cuts would be coming at some point this year, though when has not been specified.

“With the hotter-than-expected CPI, notions of a near-term rate cut by the Federal Reserve are going up in smoke,” Hamrick says. “The battle against inflation has not yet been won, and the Federal Reserve cannot yet declare ‘mission accomplished.’”

___________________

Thoughts on the Fed Chairman comments on housing

The Boston condo for sale market continues to be a topic of interest, as we enter into the cooler months herein New England.. Before sharing my thoughts on some notable trends and developments, I would like to mention the Fed Chairman recent comments. First off, his comments have created some fear in the Boston real estate community, as he has hinted new rate hikes are still possible.

Some Good News for Boston Condo Sellers

Despite challenges such as rising mortgage rates and decreased buyer demand, the Greater Boston area is experiencing steady price gains, creating a strong seller’s market. Let’s delve into the key insights from the latest housing market report by the Greater Boston Association of REALTORS® (GBAR)

Some Bad News for Boston Condo Sellers

A Slowdown in Sales Activity. The Boston condo for sale market faced a slowdown in sales activity, both single-family homes and condominiums seeing a decline in sales. Single-family home sales dropped by 23.4 percent year-over-year, . Similarly, condominium sales fell by 16.7 percent over the past year. This decline in sales marks the lowest activity for last month in over a decade, emphasizing the challenges faced by prospective Boston condo for sale buyers.

For more information on the Boston real estate market and how I can assist you in either buy or sell a Boston condominium please feel free to contact me at 617-595-3712, I’m available 24/7.