2018 Low interst rates: Now is the time to buy a Boston luxury condo
Kevin Kelly, Chairman of the National Association of Home Builders (NAHB), recently explained that:
“With interest rates near historically low levels and strengthening job growth, now continues to be a great opportunity to buy a home.”
At Ford Realty Inc., we couldn’t agree more. However, one must realize that, with prices and interest rates both projected to increase, waiting could be costly.
There are two organizations that look at the affordability of purchasing and actually measure it over time. The National Association of Home Builders has their Housing Opportunity Index (HOI) and the National Association of Realtors’ has the Housing Affordability Index.
Both indexes are reporting the same thing. The cost of buying a Boston condominium is beginning to increase leading the affordability indexes to dip.
The Boston luxury condo market
If you were waiting for the bottom of the Boston luxury condo market, you missed it. Yet, with interest rates near historic lows, it is still a great time to buy a Boston luxury condo…but hurry!
For more information on the Boston luxury condo market please call Robert Veek at 617-420-1401.