The real estate market in Boston has witnessed a fall in prices during the previous months.
It has been observed in a report taken from a source that at least one in four families in Boston selling their houses and property at below accessed value.
This is in contrast to the fact that Boston is one of the most expensive real estate markets.
The Boston Government is now assessing the properties way below the existing market value. According to government reports, from January 2006 to March 2006 there were a lot of families who sold their homes below the market value rate.
The predictions future real estate market Boston show that this trend is going to continue in the future according to the government reports. The preliminary reports of May 2006 suggest that the number of homes that will sell below the market value is going to rise in the future.
However it is difficult to tell for how long the trend will continue. The trend of people selling their homes for less than the assessed value has tripled over the previous year.
For example in May 2005, there were only 23 families out of 342 families who sold their homes under assessed value.
However in 2006 the percentage almost tripled and the number of homes that got sold under assessed value quadrupled. From 23 families in 2005, the figure jumped to 84 families in 2006.
According to the predictions future real estate market Boston in the next few months the real estate market of Boston will conduct detailed study and also will take a closer look at the case and also conduct meetings and discussions as to which towns and cities are affected and going to be affected.
Efforts will be made to improve the situation and also studies will be conducted as to why the trend tool place in the past. Efforts will also be made to study the case in other neighboring towns and cities around Boston.
