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Joined: 11 Dec 2007
Location: Cambridge, MA
|Posted: Wed Nov 28, 2018 11:47 pm GMT Post subject: Signs that Boston area’s heated housing market is cooling
|Larry Edelman, @GlobeNewsEd offer this summary of the Boston Globe headline below. What’s yours?
There are signs that the Boston area’s heated housing market is cooling
Cooling-off period: It's not panic time -- yet -- for homeowners we know looking to cash out of the Dorchester house that has appreciated wildly over the past 20 years and will finance retirement. But there are signs that the Boston-area housing market is losing steam. New data from Greater Boston realtors show the median sale price of a single-family home in the region climbed 7.1 percent to $605,000 in October from a year earlier. But, as Globe real estate guru Tim Logan notes, that growth rate has dipped over the last few months, an indication that the market may have peaked. Sales fell 4.4 percent, but the number of homes on the market is on the rise. "It’s a trend that has been in the making for several months," Tim reports, "and while sellers still have the upper hand, the slower pace of price increases is enough to give would-be buyers hope that the days of bidding wars and being forced to make a lightning-fast decision on a life-changing purchase may be coming to an end." His full story can be read here.
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