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Beacon Hill buyers want to purchase before interest rates go up

Beacon Hill condo buyers are trying to buy their small piece of Downtown Boston before interest rates continue to rise as we are expected to see slightly higher Boston condo prices on the horizon. According to the local news, rising interest rated motivate Buyers to purchase now 71 percent of home buyers believe that prices will go up in the next year. This is an increase of 10 percent compared to the third quarter of 2012 and an overall increase of 34 percent from the first quarter.

Even though we are experiencing a shortage of Downtown Boston Condos on the market many are buying now, and according to the article mentioned above, 38 percent wants to wait for more inventories to come along.

Its always tricky to say what the best way would be would it be better to buy now when prices are low or would it be better to wait for the increase of inventory but risking having to pay more.


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