2017 will be an interesting year!!!
This is a picture my son and daughter in law, on their wedding day, last year. Are they gorgeous, or what? I hope they find the joy of parenthood, because, quite frankly, I’d like some more grandchildren!! (Don’t tell them I said that.) But that is not really a real estate issue………..except new babies are what drives the housing market at the entry level, and entry level buying drives the high end and luxury markets, and eventually the empty nester market. So it’s all related.
The inventory in early 2017 is way down. That means a seller’s market is upcoming and prices will go up this spring.
But interest rates are up at least a half point, and that is going to hold buyers back. In towns like Newton, Wellesley, Brookline, and Belmont, I think the demand is going to very strong , despite interest rate hikes. But in less pricey communities, maybe Needham, Dedham, Arlington, prices will not shoot up too much. The economy is in very good shape overall in Massachusetts, and I don’t see any end to that. But rates will surely continue to rise, and confusion over health care and tax policy may have some unanticipated consequences.
But that’s not for me to predict. For me, I’m predicting an exciting year of hard work helping clients find their dream houses. That will be good for everyone!
Best wishes to you and yours for a great 2017
Call me anytime at 617-962-1511