Boston Buyer’s Gobbling Up Inventory
Massachusetts October Heat Map for List Price by County
Boston is one of the best places in the country with a consistently strong housing market. Today’s sesseion of The Greater Boston Real Estate Board’s Economic Expectation Forecast for 2017 GBREB.org was packed with optomistic data setting us up for a strong housing market going into 2017. Jonathan Smokey, Chief Economist for Realtor.com gave a lively presentation especially for an economist as he more or less pointed out a few times.
Real Estate is a seasonal business
October Median List Price by County
June, July, and August typically see about 75% of the real estate sales for the year. Then once school starts and the holidays kick in, we experience a decline in activity. NOT THIS YEAR! The market is strong although volume of inventory is a problem.
The Boston Market is “raging”
Smokey spoke of a “raging” market in Boston. Raging implies growth. A raging market is a dynamic one. If is fun but dangerous and shifting. Product mix is shifting. Demographics are shifting.
If you want to hear more, contact me or follow me on Twitter @Janetsville. You can also follow Jonathan Smokey @smokeonhousing