The Massachusetts Association of Realtors and The Warren Group, both providers of home sales data, have both reported today that Massachusetts home sales have flattened; here’s a link to the Massachusetts Association of Realtors press release and a link to The Warren Group’s press release. Yes, I’ve recently noticed a bit of a slow down in my real estate business but I think it’s, at this point, only a natural pause due to the tremendous growth in relative prices that we’ve seen in the Boston real estate market over the past two years. I hosted an open house at my listing located at 109 Pleasantview Street, Roslindale this past Sunday and I had nine sets of buyers attend with one of those sets being there for a second showing so the market demand is still there. I also had eight sets of buyers, all developers, show up at my open house at 112-114 Queensberry Street, Boston yesterday, a property that I anticipate selling at approximately $3M, so developers are still very interested in creating new housing. Real estate, overall, is still selling but buyers have become a bit slower to act, in my opinion, because they’re worried, primarily, about buying near the top of the market. Have I seen any red herrings, other than the obviously increased real estate prices, that’ve tipped a drop in home prices anytime in the near future? No. I think that we’ll continue to ride along this at this price level for the foreseeable future but, of course, I don’t have a crystal ball.
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