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Welcome to your constantly updated resource for news and views on the Brookline Real Estate market. Here you will find commentary and statistics to explain the daily changes in the Brookline specific housing market.

Whether you're looking for an estate in Cottage Farm, a condo in Brookline Village or are just stopping by please feel free to read along and comment at will. If you are interested in speaking about renting an apartment, buyer representation or listing your home please feel free to contact me.

Thursday, January 24, 2008

Homes see first price drop on record - CNN

Homes see first price drop on record - Jan. 24, 2008

This article was found on this morning and speaks to the news that many home sellers are dreading. These numbers are important for all participants in the real estate market to understand well. What is even more important is for everyone to look at which factors will lead to a housing "rebound." The very last line of the article is most telling in my mind.

"Hopefully by the end of 2008 or beginning of 2009," [Mike Larson, Weiss Research] added, "supply levels will come down and we'll see some stabilization."
Supply and demand will continue to be the most basic of all factors in our economy. On Tuesday I discussed the "9 Factors Protecting Brookline from Market Collapse" and the most important of them all was supply and demand. The businesses, schools and hospitals which drive housing demand in Brookline specifically are still creating the same level of demand as they always have. The supply has plummeted.
This graph shows us that the available "supply" is down tremendously.

This graph shows us that the number of properties being bought (demand) is up strongly.

There is no analyst that can point to your local market and tell you that supply and demand will fail, for the first time ever, here in Brookline.


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The views expressed on these pages are the opinion of the author and any public contributors. They do not substitute for the advice of a legal or financial professional. These opinions are not representative of any firm or business. Please always consult an attorney, financial professional or sign a contract with a Buyer Agent or Seller's Agent for specific advice.