Both Renters and Buyers getting Squeezed

For a little bit now everyone has been talking about the squeeze renters are facing when trying to find a new place to live. Rental prices have soared and availability is at its lowest in years according to many Boston landlords. What hasn’t been discussed is the relatively new phenomina (at least in Boston) of Buyers getting squeezed as well.

In the past the month, I’ve heard from multiple agents who have had properties with multiple offers on them and from at least two agents that got into a bidding wars on deals for their clients. In addition, I’ve witnessed people bidding above asking in attempts to eliminate other potential offers. While most of the US housing market is still recovering, Boston’s currently seems to be white hot. The high rental prices and low interest rates are bringing out many first time buyers, all of whom are looking for a well priced place to call home.

If you are thinking about listing your home give us a call at 617-449-3642 to discuss current market conditions and pricing.

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