MA Market - Middlesex County

[Nick Noon]

Hey all Boston-based BP'ers. 

I was wondering if anyone has any idea of what the outlook on the market is in the Boston area.  I realize that is a broad question, so let me get more specific.

I am a first time home-buyer looking to buy a multi-family property I can house-hack.  I work in Newton so I am looking for a multi in the Middlesex county, or possibly the Norfolk county if there is a deal there and it's closer to Newton.  

I will have about $12,000 saved up around the 1st of the year and thats when I plan on buying a property....hopefully have a P&S signed by March. I have been preapproved for loan by my mortgage lender and am looking to do the FHA 203k loan. I have been tracking houses on the MLS in the Middlesex County, as well has homepath.com and homesteps.com for a few months now and I am really not seeing a lot of inventory out there.

Does anyone think that there will be more inventory in the March time frame?  Will interest rates stay the same?  I feel like right now everyone is overpaying for everything and it seems to be a heavy "seller's market".

Any insight would be much appreciated as it will help prepare myself for when I buy house early next year.  Once I buy that one I would be looking to Cash out refinance to buy another property.