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.
Filed under: Advice for Home Sellers, Boston Real Estate Market, Boston Waterfront Luxury Buildings. • Tags: , Bostoncondominium saleshome valueshousing market. By CL Properties @ 02:10-04:00
Boston home values continue to rise for the fourth consecutive month. From June to July, Case-Shiller, shows that home prices have increased by 1.8 percent which is more than the national average. Low inventory, strong consumer confidence and low interest rates have added to the strong upswing that we have seen in the market over the past four months. Sales prices have shown an increase of an astounding 24% during the first eight months of this year in comparison to the first eight months of 2011. Specifically condominium sales in the state have shown the largest increase in volume with a 40% rise from August last year to August of 2012. Experts studying the economic climate have stated that the housing market has stopped the downturn and are expecting a continued rise. The biggest challenge currently facing the real estate landscape is a continued lack of inventory. Now is an opportune time to list your home for sale. With demand and home values on the rise now is a great time to get the highest possible price for your home. Contact CL Waterfront Properties, LLC to learn how you can sell your home in this rejuvenated market.