Homeowners analyze local landscape
Home prices in Massachusetts may be down, but the market is looking up, buyers and sellers say.
A Warren Group report released last week showed a 6.6 percent decline in home prices, dropping below $300,000 for the first time since 2002. However, there are optimistic consumers.
“I read all the reports and listen to the news, but it doesn’t necessarily affect my decision to buy,” said Nancy Williams, a 37-year-old homeowner in Boston interested in buying. “Most of the reports are speaking on a national or state level and don’t apply to specific neighborhoods.”
From a buyer’s perspective, low interest rates for 30-year loans along with relatively lower housing prices make it a good time to buy.
“I don’t think that you should sit on the sidelines because you think the market will take a catastrophic plunge lower,” Williams said. “No one can time the bottom.”
For some sellers, it’s more about comfort level than profit.
“I pay attention to the numbers, but I also pay attention to what has sold in our neighborhood,” said Donald Petry, a Dorchester resident who put a house on the market two weeks ago.
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