Due to continued supply chain issues with raw materials and skilled labor shortages the cost of new construction continues to outpace the value found in smaller scale renovation projects. We expect buyers to place an increased emphasis on finding opportunity with homes that can be updated over time to meet their “dream home” vision. Flexibility with search criteria will be key to allow buyers to compete.
With slowly rising interest rates we expect buyers to flood the market in mid-2022 to secure rates before they continue to go up. To circumvent even further competition, Jan-Apr is a great time to start a home search and avoid our projections of record high competition levels this summer.
No matter what your current housing situation our team is always here to support in any way possible. We wish you a happy and prosperous 2022!
Note: The above picture is a local artist's watercolor rendition of the Boston skyline.