Boston Condos for Sale and Apartments for Rent
National housing speculations for 2023
National housing speculations of the percentage change in the 2023 national home pricing from a recent WSJ article:
NAR: +1.2%
NAHB: +0.7%
Fannie Mae: -1.5%
Goldman Sachs: -7.5%
Ivy Zelman: -12% (peak-to-trough in late 2024)
John Burns: -20% (peak-to-trough in late 2024)
KPMG: -20%
The article doesn’t cover any new ground as most of these predictions were already posted in the media. There is no mention of our local Boston condo for sale market.
But I’ll give you my opinion.
I don’t see how Boston condo appreciation can continue at its current rate. I think the national economy will enter into a recession which will have a negative impact to the Boston condo for sale market. I want to make sure I make this clear, I don’t foresee any serious price reductions with the current asking price. The big exception would be if we go into a recession how bad will it be, a few months, or could it run into couple of years?
As far as Boston condo sellers are concerned they need to make their home look spectacular, price it attractively, and make it easy to show in order to sell. In addition, the realtor needs to employ terrific salesmanship, and find a qualified buyer quickly.
It’s that simple!
