As mortgage rates rise in concert with The Fed’s rate hikes have increased, fears about the Boston condo for sale market pricing out would-be Boston condominium buyers continue to fester as we approach the Spring 2023 housing market.
The interest rate on a 30-year fixed rate mortgage is hovering around 6% (slightly above) at the time of this published real estate blog post.
And not only is it becoming more expensive to borrow money, but most real estate brokers investors and builders have said they don’t anticipate housing prices will drop significantly but will instead grow at a slower rate.
However, there are signs that the market is shifting towards buyers, bidding wars have evaporated and sellers are open to concessions,
That;’s all I have for now, but I’ll have more Boston real estate blog posts later today.
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