Listen closely, and you will hear a sigh of relief. Look closely, and you will see a big smile on the faces of those who follow the economy. Retail sales slowed and inflation is cooling overall, just what the Federal Reserve aimed to do. If the economy resets, the hope is interest rates inch down in the coming months for the first time in a long time. Although many say we won't see that happen anytime soon. The stock market liked the shift this week and reacted favorably.

 

Mortgage rates adjusted down slightly in the last week, but not enough to ignite refinances or a rush to buy. They stand at roughly where we were last year at this time. Nothing to celebrate just yet.

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I am feeling VERY optimistic about the activity that is to come after the new year. In my pipeline, I have excited and eager buyers and sellers who are determined to make a move in 2024. I will be thrilled to share some fabulous listings that I know will be a welcome addition to the stale inventory we have now. Although a look at the weekly numbers is reassuring since properties going under agreement far outpace new listings. A final push before the holidays. 

 

Colleagues nationally will be frustrated by my optimism I am sure, but when it comes to the Boston area, people consistently want to live here. Yes, the weather isn't ideal, and our taxes aren't the lowest, but the quality of life is high, and it's a great place to raise a family. In fact, the top luxury market in the US right now is very close to home, according to the website Mansion Global—it's Portland, Maine! The influx of people heading to the Boston area feeds into nearby markets, that in turn benefit satellite cities. The other top 10 hot destinations included in the article may surprise you. I am personally quite happy to see Wilmington, NC on the list as that is where a bulk of my real estate investments live!

Wherever you are heading next week- I hope you have a fabulous Thanksgiving!! 

I'm always available and more than happy to provide an analysis for you! Email me at teri@mgsgrouprealestate.com or call at 617-306-3642 to schedule a meeting.
 
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