According to a recent Wall Street Journal article home prices have rose an astounding 3.6% from this time one year ago making this the largest gain the housing market has seen within the past six years. Housing prices have seen substantial increases in nearly all of the metropolitan markets throughout the country including Boston. There are several reasons why we are now seeing this increase and one of the major ones is the increase in building that we will see over the coming year. Experts are saying that the country is prepared to add one million new homes to the market this year, which is nearly twice as many as years past. Over the past couple of years rental rates have been on the rise which has lead way too many investors entering the market to take advantage of strong returns on their investments. However, it appears that recently many have decided to stop paying extravagant rents and are deciding to buy their first homes. All of these factors as well as a large decline of distressed sales in the market place will make the 2013 housing market very strong. To learn more about the changing terrain of the local real estate market contact CL Waterfront Properties, LLC.
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