November Housing Insights

“Election jitters, inflation pressures, and recession fears have nudged mortgage rates back up to the low 7% range after a brief dip, causing some buyers to hesitate. But as Warren Buffet famously advised, ‘Be greedy when others are fearful.’ Low inventory continues to push prices upward, making this a time when those who buy today will likely benefit from future appreciation.

After a slow start to 2024 - following an already sluggish 2023 -the Greater Boston market is showing signs of resilience. In the fourth quarter, year-to-date single-family and multi-unit sales across Suffolk, Middlesex, Essex, and Norfolk counties are up by 4%, while condos are holding steady. Prices are rising across all categories: single-family homes have gained 4.7%, multi-units have surged by 8.2%, and condo prices are flat, with Suffolk County up just 0.7%.

For no-pressure insight into the market, consult a Leading Edge agent today,” reports Linda O’Koniewski, CEO, Leading Edge