DEVELOPERS REQUIRED : What’s selling well in your market today?

[Sean Kelly-Rand]

Despite the dramatic increase in interest rates, new development in Boston is still required. Because much of the existing housing stock is ‘stuck’ (interest rate changes preventing moves) new development is one of the only ways to meet the lower but still significant demand.

Anecdotally, we hear that well-priced, modern properties are still selling in a single weekend. There is a huge difference in demand for modern well designed properties and older unrenovated stock.

Per Goldman on supply of homes: "Record-low homeowner vacancy rates have essentially depleted housing inventory and materially tightened supply. On net, this implies a muted impact from completions on the current supply/demand balance of housing and, ultimately, prices. Even if every single home under construction was completed and listed on the market immediately, the months' supply of homes (the ratio of inventory to annual sales) would still be below historic averages."

Insights appreciated from the real estate industry experts: What’s selling well in your market today? And what's sitting?