What is the future of the Boston condo for sale market?
As interest-rate hikes slow the housing market, what will happen next for the Boston condo for sale market?
Can the Fed land the economy into a soft landing?
Many real estate analysts are expressing doubts over the Federal Reserve’s ability to execute a “soft landing” for the economy.
Will Boston condo buyer be priced out of the condo market?
My concern is that the recent rate hikes will bring down Boston condo prices across both the low and luxury end of the market as more Boston condo buyers are priced out of the market, particularly in areas that saw rapid appreciation during the pandemic.
Are Boston condo prices continuing to rise?
Boston condo for sale prices continue to rise, though the growth appears to be slowing. Meanwhile, the average rate for a 30-year fixed mortgage has more than doubled since the start of the year to well above 6 percent, according to Freddie Mac, making it more difficult for buyers to finance their purchases.
Last week, mortgage applications fell 14.2 percent from a week prior, grinding to their slowest pace in a quarter-century, according to the Mortgage Bankers Association.
Did the Fed act too slowly in raising interest rates?
Many are now criticize the Fed for not acting sooner to address inflation.
Interest rates were too low for a long time. The Fed should have moved interest rates a couple years ago, slowly. All these buyers were looking at it as free money, because it was.
Boston condos for sale and the bottom line
Interesting times ahead for the Boson condo for sale market as we enter into the winter months, that are traditional a slow season under normal circumstances.