Ford Realty Inc. is declaring victory for 2022.
We survived the fastest rise in mortgage rates in history, and not only are sales still happening (47 closed in downtown Boston in December so far, so we should get close to 100), but the new-pending’s count have been hanging tough too.
- No flood of Boston condo for sale inventory…..yet.
- The number of actives is way down but not out. It must mean that those still on the market really do want to sell. Even though most of them are probably having no showings, at least they are willing to stick it out, just in case. It should give us more to work with in January.
- Mortgage rates are getting closer to 5%. You can get a jumbo today in the low-5s.
- The Fed doesn’t open it’s big yap until February 1st. So hopefully, no more bad news
Maybe we can get a quicker start in 2023? If Boston condo buyers are visiting family for Christmas and the holidays and come back next month to see some price reductions, we could have a decent January too.