Five emerging trends we’re tracking in the Greater Boston Area marketplace.
Today I want to tell you about what's happening in the Greater Boston Area real estate market. Here are the five key trends that we’re starting to see: 1. Mortgage rates are expected to climb. Low mortgage rates have contributed to the recent competitive market and the lowered cost of borrowing. 2. Sale price growth is expected to slow. Rising interest rates mean higher monthly mortgage payments, but they’ll also usher in a return to a more balanced supply-and-demand dynamic. 3. Buyer rebates are becoming more important. Buyer’s agents are working hard to get buyers rebates for their closing costs to help them compensate for the high prices in today's market. 4. Normal seasonal buying patterns are likely to return. Over the past few years, homebuyers' journeys have felt more like a marathon of bidding wars than a pattern of seasonal sprints. However, experts believe that seasonality will return this year. 5. A desire for shorter commutes. As people return to the office, they are trying to live closer to their places of work. If you have any questions, reach out to me by phone or email. I look forward to hearing from you.
