Boston is one of the premier places for real estate investors and new homebuyers alike. According to CBS, one in five properties in Greater Boston are sold to investors that are looking to make a buck off of the famous city.
If you're interested in the Boston property market, then understanding housing trends in Boston is crucial. But how can buyers in Boston real estate keep track of all of the things that are happening in the city?
If you're curious about real estate trends in the Boston, MA area, we're here to help. Read on for a quick sellers' guide for Boston real estate.
- Lower mortgage rates on the horizon
- Upcoming increase in inventory
- New construction homes are planned
- Remote work is falling
Lower Mortgage Rates Are Incoming
One of the trends that many homebuyers are happy to hear about is that the mortgages are expected to fall. That information comes to us from the Boston Magazine, as will much of the information in this article.
What does that mean for the homebuyer? It means that purchasing a property is more of an obtainable goal than it has been in years past.
If you're an investor selling a property, you can expect more homebuyers to have an interest in your home. With falling mortgage rates, the pool of homeowner hopefuls will increase, as will the pool of tenants.
Increase in Inventory
Speaking of an increase, the same article also lists an increase in inventory. That is to say, more homes are expected to be hitting the market over the next few years.
Mostly, this is because more homeowners will list their homes for sale due to those lower mortgage rates. Limited inventory is a huge limitation on the market, so this is one of the best real estate trends for us to see.
New Construction Homes Approaching
Increasing the available inventory is also an expectation of new construction homes. Due to a lack of inventory over the last few years, many developers and local builders were able to build more homes.
As these homes hit the market, inventory will only increase. It's one of the best real estate trends for investors looking for multiple homes.
Approaching the Death of Remote Work
Finally, remote work is beginning to go away. Remote work was implemented across the nation as a response to the COVID-19 pandemic. Most Americans are huge fans, but according to Yahoo, it doesn't seem like their bosses are.
As remote work falls away, more people may sell their homes to move closer to work. As a trend, this will have the smallest impact, but is definitely something homeowners are keeping in mind.
Understanding Real Estate Trends
Knowing the real estate trends that are fueling the Boston property market is critical. Understand what buyers in Boston real estate are looking for so you can make the investment you need to make.
At PMI of Greater Boston, we're dedicated to providing the Boston area with excellent customer service and maximizing owner profitability. Our offices are locally owned and operated independently by Bostonians who know what helps the real estate market here tick. Contact us to see how we can help today.
