The headlines keep coming! My inbox had an email from the website, "Redfin" with the header, "From the CEO: A 2023 Housing- Market Surprise" He is surprised because towards the end of 2022 that company predicted a screeching halt to home sales and warned of prices plummeting. Now they are backtracking as their forecast was wrong. The Wall Street Journal headline this week read, "The Outlook for Buyers this Spring, Not Terrible," which was then followed by the line "affordability and inventory remain an issue". And yes, those factors certainly are an issue. Here is this weeks chart.

At MGS Group, we took a look at all of the towns in Metro West and saw that while technically inventory increased year over year and the number of houses going under contract decreased, there were so few houses on the market at one time that just adding 5 or 10 houses seemed like a significant jump. The demand is still greater than the supply however. The shoes piled high at an open house this weekend tells the story!

We can feel it in the market. If you don't move quickly and aggressively on a house that you like, then you will lose out. The first question out of a savvy buyer's mouth is "when is the offer deadline?" By knowing this they can create their strategy with me to win a house. Some sellers will review offers after being on the market for multiple days rather than taking an offer in a matter of hours. This allows buyers to take their time and be thoughtful with a bid, and it allows a lot of people to see the property creating a scenario for a bidding war. We are back to dropping all contingencies and offering over asking prices. But being greedy out of the gate doesn't fare well for sellers. Buyers have a limit of how much they will spend and will walk away unimpressed with an inflated listing price. That's why you will see some properties sitting.

The problem with this frenzy is that some are on edge. While looking at houses is my full time job, buyers have jobs, families, and responsibilities, or they aren't living in Massachusetts just yet. That means it isn't always easy for them to see a house immediately or move as quickly as is necessary to position themselves for an offer. This can be frustrating and exhausting for those who don't thrive on the thrill of the chase. The fall did offer a more calm approach to buying and selling, and while the wild bidding wars weren't there, there was an equilibrium which made for a nice breather in hindsight.

In about 2 weeks we will enter the peak of our spring market. I am hopeful we will see a greater number of new properties so house shoppers have a choice! Talk about interest rates has subsided a bit as the public seems to have gotten used to them and anticipate them going back down in the coming years. Have a fabulous week and if it is your vacation week, I hope you have a restful and fun break!

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