How I feel about the Boston condo for sale market
There’s a parable about a few blind men being led to an elephant, feeling one part, then describing the whole thing. One feels the leg and says the elephant is like a tree, one feels the tail and says it feels like a snake, and so on.
When it comes to how I feel about the Boston condo for sale market, I’m like a blind man describing the condo market by what I feel:
How I feel about the Boston condo for sale market
- The web traffic for local real estate websites are up, my Boston Real Estate Blog (www.bostonreb.com) web traffic is up by 20%. This feel like good news for the market.
- Interest rated are hovering around 7%, which is bad news for the Boston condo for sale market
- Boston condo for sale inventory is rising, good news for Boston condo buyers.
- Banks are tightening up lending standards due to the recent bank collapse. this winds up as bad news for the market.
- Affordability is a major problem for Boston condo buyers, especially as interest rates rise.
The bottom line, there appears to be more negative signs than positive for the Boston condo for sale market.
