You know when the first fall chill hits and you break out the hat, scarf and maybe a pumpkin spice latte? It’s when we call 55 degrees ‘brisk.’
That same temperature in early April can cause us to trade in the jackets and boots for flip flops and an iced regular. It’s when 55 degrees feels ‘balmy.’
It’s all relative.
In a sense, that is also what’s happening with the real estate market. We are coming off a heated season that makes a slight cooling feel ‘brisk’ when it’s really just leveling out to something that is more seasonally appropriate.
The normalization of the real estate market means that it’s a little less frenzied for buyers, but sellers in the Greater Boston market are still retaining their home values. It’s true that increasing mortgage rates mean that it costs more to borrow, but the upside is that high rates tend to temper demand, causing home prices to level out.
Curious to know how the shifting market may have affected your home value? Contact us today for a free and confidential CMA – the pumpkin latte is on us.
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