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Too much pressure on buyers?

Posted by Scott Van Voorhis November 27, 2013 09:11 AM

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Fall is sliding into winter and the holidays are here, but the real estate market shows no signs of going into hibernation.

In fact, it still looks like a crazy fast market, with pressure - really too much pressure - on buyers to act fast.

Just under a third of homes across the country are snagging buyers within two weeks, according to Redfin.

But in Boston, buyers face even more of a push to act quickly - not the greatest thing when you are weighing what is likely to be the biggest financial commitment you will never make.

The number of Boston listings that sold under two weeks in October topped 40.2 percent, with the pace even picking up a bit from September, albeit slightly, from 40.1 percent in September.

That's marked change October 2012, when just 13.4 percent of Boston homes were going under contract within two weeks. (Some of that may be due to a shift in how MLS PIN counts pending sales, which recently changed and had under
counted pending sales, but still.)

That said, the other 60 percent of listings out there - the ones that aren't scooped up in
the first two weeks - could have a much longer lifespan on the market.

Buyers, what are you seeing out there? Planning any holiday home shopping?

This blog is not written or edited by or the Boston Globe.
The author is solely responsible for the content.

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About boston real estate now
Scott Van Voorhis is a freelance writer who specializes in real estate and business issues.

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