Massachusetts Property Values: An Appraiser's Outlook And Predictions Of The Future

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The Massachusetts real estate market was artificially stimulated by forces outside the normal supply demand model. This led to artificially increased values, mostly at the lower end of the value range in communities at the lower end of the income range. Once the stimulation was terminated, around 2006, and market forces returned to normal, the correction process began. The market has to absorb all of the artificially induced value, before it can start to act in a normal supply demand model. Following the trend lines we would predict that the lower and middle value ranges in most Massachusetts communities will continue an upward trend in average value. The upper end in both markets will continue to feel the pressure of the recession and tight credit for 12-18 months until the recession’s negative effects are mostly dissipated and we have moved into a strong growth mode.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Richard Vetstein | Attorney Advertising

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