Mass. to be 'seller's market' in 2017
The 2017 Market Outlook Report from RE/MAX INTEGRA is predicting a continuation of the seller’s market that dominated 2016, with the caveat that market balance could come later in the year.
“The New England housing market shows promise of continued growth early in 2017, given the combination of low interest rates and ongoing demand among first-time buyers, especially in cities and surrounding areas,” Dan Breault, executive vice president and regional director at RE/MAX INTEGRA of New England, said in a statement.
In Massachusetts, according to the report released Tuesday, record-low inventory will drive the continued seller’s market that the state has seen in 2016. This low inventory is especially prevalent in the sub $300,000 price range.
Additionally, younger and first-time buyers will continue to be a force in the market. This population is interested in areas within commuting distance to cities, according to RE/MAX. While especially concentrated around the Boston market, this impact is taking place across the state, according to the study.
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