Hello and Happy New Year!

Last year, one factor drove the real estate market more than any other: rising mortgage rates. 

In March 2022, the Federal Reserve began a series of interest rate hikes to pump the brakes on inflation. While some market sectors have responded slowly, the housing market has reacted accordingly.

Both demand and price appreciation have tapered, as the primary challenge for homebuyers has shifted from availability to affordability. And although this higher-mortgage rate environment has been a painful adjustment for many buyers and sellers, it should ultimately lead to a more stable and balanced real estate market.

So what can you expect in 2023?

Will mortgage rates continue to climb?

Could home prices come crashing down?

While this is one of the more challenging real estate periods to forecast, our view is based on our knowledge of the Boston market and research of what several industry experts predict will happen to the U.S. housing market in the coming year.

Read the full article here:

An 8-Minute read

Another year for us means another year of our association. We are fortunate to have clients like you. We promise to put in the best hard work to make it a beneficial experience. We wish you and your family a blessed and prosperous Happy New Year.

Best regards,

Karen & Barry Hickman, Helen & Jim Coen

617-821-1665, 617-416-8173