Did the Fed just save the Boston condo for market for 2024?

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Did the Fed just save the Boston condo for market for 2024?

Did the Fed just save the Boston condo for sale market for 2024? The Fed Chairman shocked the world by declaring three rate cuts in 2024! It was Fed speak of the most unusual order – open and transparent, instead of the opaque mumbling of previous chairmen.

Fed Chairman Jerome Powell | Ford Realty Inc

The predictions are for rate cuts early in 2024 too. The CNBC survey showed a 90% probability of a rate cut at the Fed’s March meeting, and 100% chance at the May meeting. This Fedwatch Tool below thinks they will all be in the first half of 2024:

What does it mean for the 2024 Spring Selling Season?

Real estate prognostications are usually wild guesses without any supporting data. But next year looks more predictable than ever – and its looking very good.

Boston condos for sale and the bottom line

My guess is that there will be 10% more listings in January, and combining that with lower mortgage rates could set off a mini-frenzy in the Boston condo for sale market for the spring season in 2024!

Pricing was predictable this year, and it should bump around the same +/-5% in 2024.

Overall, I’m feeling positive for 2024, my only major concern is that 2024 is an election year, which can throw a wrench into my predictions.

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