Here's another reason why the rental market continues to remain strong: there's a shortage of available condominiums in Boston, so buyers are forced to rent. That being said, consumers with a choice are facing the question of "should we rent or buy?" Many believe the market will soon adjust and prices will come down. It should be an interesting year in real estate.
Boston continues to be seller's market -- for a while.
According to a report on the Boston Herald, "it was a year for sellers rather than buyers, as condo inventory in Boston shrunk to lows not seen since the 1990s, keeping prices high and bringing bidding wars back to the table. And the seller's market will continue into next year because many condos now in the pipeline won't be ready for another year or two."
You can read the full article, here.