I am writing this after a weekend getaway in sunny Florida where the stars aligned, and my family and I were able to relax while basking in the warm sun! Reports of cold and rainy weather here in Boston had us high-fiving for our ingenious plan to head to the land of sunshine each Memorial Day. At the same time, we felt twinges of guilt as you all braved the crazy rain and cold. Besides the weather, another highlight was having Derek Jeter and Mark Wahlberg at our resort- especially for Allie, who loves celebrities. Let's just say the Adler-Lazzarino family loves a good celebrity sighting!
And while I was venturing south, clients who have been putting off their moves out of Massachusetts for more than a year now decided to take the plunge, and fly to the mid-west and southern parts of the country to find their next homes. They are vaccinated and feeling more at ease with jumping into this next chapter of their lives. When they find their new homes, in turn their houses here will come on the market; this pattern will then bring more inventory, and I truly believe the lack of available housing will ease up. There are 29 houses on in Wellesley as I write this, which is more than we have seen in past weeks.
A lot of people are asking if I think things will slow down as we approach summer. Personally, I am not seeing any signs of that. In fact, we are gearing up to put many houses on the market, and I know our colleagues are equally as busy. The typical slower summer market may be a thing of the past for now. I anticipate a busy June, July, and August for the reason mentioned above. As well, relocation clients from other parts of the country will descend on Boston this summer looking for a home to buy or rent just as they have done in past years.
Rents as well as purchase prices have gone up considerably. A lot of people are moving to new areas and want to get to know the place before settling down. Much like houses, there is a shortage of rentals. With such strong demand, rental prices have inched up too. People are hoping that if they put off buying for one year, the prices and demand may settle when they want to jump in. Of course, it's impossible to predict if that scenario will work out.
Have a great week and see you back here with another update!