This past week we saw fewer properties go under contract than in the recent past, but in my opinion this is really just a summer break. Even though mother nature tells us differently, it is summer, and many people are on vacation despite the rain.
While you may be reading this from your lounge chair at the beach, we have been busy! Our newest listing at 81 Parker Road Wellesley seems to be the "hot home" of the week with it's picture-perfect renovations and design, attractive price point, and lovely location. It has appealed to so many different buyers- especially those hoping to move from the city to the burbs. We have scheduled dozens of showings in just a few days.
I also continuously study other markets nationally to help look at the big picture. In the Raleigh, Durham, and Wilmington North Carolina markets which I know well, houses sell in literally hours or just a few days. This pattern is being played out all over the country of course. Think about the equity you have built into your home in this market - if you can sell and reap some of the benefits of this real estate frenzy, now is the time. 
I found a great article on the future of the market this week put out by, of all organizations, Fannie Mae (the Federal National Mortgage Association). I am including this entire paragraph because the reporter shares with readers his prediction on demand and the future of housing prices. It's a measured view, and one that I agree with.
“While recent home price growth has been historically high, we’re forecasting further home price appreciation to moderate through the remainder of the year and into 2022,” said Mark Palim, Fannie Mae Vice President and Deputy Chief Economist. “On the supply side, we think homebuilders will be able to increase production as supply chain disruptions and labor shortages alleviate, which should add to the inventory of new and existing homes available for sale. On the demand side, we expect the increase in housing demand we saw over the past year to ease, as the impact of unique recent factors lessens, including adjustments to accommodate pandemic-related remote work arrangements, stimulus checks bolstering household savings, and record-low mortgage rates. However, demographic trends remain favorable for a strong housing market over the next few years, and, combined with the chronic undersupply of homes built over the last decade, upward pricing pressure is likely to remain through the forecast horizon – just not at the rate seen this spring. Nevertheless, we expect home price growth to become one of the more persistent drivers of inflation going forward, as other, more transitory factors diminish.”
Never before have we invested so much time and effort trying to predict the future the way that we have been the past year and a half. I suppose living a life with so many highs and lows across multiple sectors does that to you. 
 
Have a good week- let there be sun!!