The following is an excerpt from our Spring 2016 South End Stakeholders' Report, a report on the state of the South End real estate market and a glimpse into life in our neighborhood. You can download the full report here.
Historically, as money becomes cheaper to borrow, buyers become more likely to act. As mortgage rates go down, the buyer pool grows larger, demand increases, and home prices go up. The chart below illustrates this inverse correlation between mortgage rates and home prices. The Federal Reserve entered 2016 with a plan to gradually increase its benchmark interest rate in a range of 0.25% to 0.5% for the first time since the financial crisis, so long as job growth remains strong.
2015 Boston Market Analysis
What are Boston’s highest- and fastest-selling neighborhoods? All signs point South! The South End and South Boston comprised nearly half of the total number of Boston sales last year. Below is a breakdown of the city’s top ten neighborhoods in 2015:
Home Sales: South End Synposis by Housing Type
Find this story and more in our Spring 2016 South End Stakeholders' Report. Read all about the latest real estate trends, forecasts, and an in-depth look at the South End community.