The Boston condominium market is poised for a slowdown as the current inventory increases without a corresponding rise in sales. Despite a temporary dip in mortgage rates, sales are expected to decline, leading to a projected glut of condos on the market this summer. Sellers may face pressure to lower prices significantly, while buyers will likely adopt a wait-and-see approach. This situation could leave real estate agents struggling to adapt, as many have only experienced a strong seller’s market for over 25 years.
The Boston condo market faces a slowdown as inventory increases and sales falter, leading to gluts and significant price adjustments as sellers wait for better conditions.
Realtors, potentially unprepared for a downturn in the real estate market, may find it challenging to navigate the shift from a seller's advantage to a buyer's market.
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