The Boston condo market has seen a slowdown in sales during January and February, attributed to homeowners choosing to stay in their current residences rather than sell at higher mortgage rates. With fewer units on the market, the overall sales activity has decreased considerably compared to the previous year. Although mortgage interest rates have seen slight reductions, the Federal Reserve appears hesitant to implement further cuts, anticipating rising inflation due to tariffs. This situation may contribute to a concerning trend, which has been informally termed the 'Trump slump.'
The Boston condo sales market has been pretty slow, with fewer condominiums available as homeowners hesitate to sell amid rising mortgage interest rates.
Mortgage interest rates have decreased slightly but the Federal Reserve seeks to stabilize the economy, leaving a bleak outlook for inflation and housing.
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