Although it’s not even Thanksgiving, market trends for 2014 are already appearing. Real estate trends forecast that “Second-tier cities will lead the [real estate] recovery next year”. Cities like Dallas and Portland are becoming more enticing than the “always open” mindset of New York and San Francisco. While this is appealing for some, what does it say about New England’s favorite city? Where does Boston rank? Upon further research, it’s been gathered that Boston is in fact, a second-tier city.
More real estate deals are available in second tier cities, in residential and commercial real estate. Due to basic supply and demand, where there is an ample amount of product often suggests lower rates. Case in point, the Boston real estate market has listings at half the cost of similar New York City listings. Due to the lower prices, Boston will hopefully see an influx in real estate deals in 2014. Here’s to an early wish of a prosperous next year!