No Need to Despair – More Inventory is Here


Judy Boyle, Realtor® Proudly serving the Borough’s and Beyond with honesty and integrity since 2003 508-561-7164
Judy Boyle, Realtor®
Proudly serving the Borough’s and Beyond with honesty and integrity since 2003
[email protected]

By Judy Boyle

This week I was informed by some homebuyer clients (let’s call them the Verklempt’s) that they were suspending their home search until the market corrects itself and prices come down. As their pseudonym suggests, this couple was overcome with emotion and just plain distraught after losing out on three homes. I suggested they come in to my office so we could review the current state of the market and take a glimpse into what the future may hold. By the time we were done, the Verklempt’s were rejuvenated, encouraged and ready to continue the search.

First we discussed the cost of homes today. I shared the Home Price Expectation Survey which projects home prices to increase an additional 9% by the end of 2021, 5% by the end of 2022, and 3.5% each year through 2025. What this means is, if you buy a house today for $500,000, it could very well be worth $611,795 by the end of 2025. And the HPE survey is historically conservative so these predictions could be even higher. Where else can you enjoy a 20% return on your investment in four years?

Then we discussed mortgage rates. I referred to a recent J.P. Morgan Insights Report which states, “Homebuyers – rates are still historically low; they are inching up. Housing prices have spiked over the last six to nine months, but we don’t expect them to fall soon, and we believe they are more likely to keep rising. If you are looking to purchase a new home, conditions may be better now than 12 months hence…”  Furthermore, projections by industry experts such as Freddie Mac, Fannie Mae, and the National Association of Realtors® predict mortgage rates will rise to 3.37% by the end of the year and 3.57% by the second quarter 2022.

To put this all into perspective, if you purchase a $500,000 property today at 2.75%, your principal and interest payment would total $1,939 based on a 5% down payment. If you wait until April 2022, however, your payment could increase by $212 for that same $500,000 house. And that’s not factoring in the predicted 9% appreciation cited above, which would skyrocket your payment by a whopping $400. If this isn’t incentive to buy now, I don’t know what is.

Yet, the Verklempt’s made a valid point in that there is so much buyer competition and not enough inventory. This is where I was able to offer the most encouragement. I was thrilled to report that after a long listing hiatus, there was a noticeable uptick in inventory in June. To quote in its Monthly Market Trends Report, “The improvement we saw in new listings’ growth from May to June shows sellers are entering the market historically later in the season which could mean we’ll see home buying continue into the fall as buyers jump at new opportunities.”

I coached the Verklempt’s into being 100% committed to the search this summer, when so many other buyers have thrown in the towel, and to be ready to put their best foot forward when the next right opportunity presents itself.


Boyle lives in Northborough where she is also a Chapter Leader of the Neighbor Brigade, a non-profit charitable organization that assists families in times of crisis.  She has been a Real Estate Agent since 2003 and consistently wins awards and accolades for excellence in customer service and sales volume, culminating with her induction into the RE/MAX Hall of Fame. She is also a Children’s Miracle Network ‘Miracle Agent’ and makes a donation to Boston Children’s Hospital on behalf of every home buyer and seller upon closing.

 Boyle’s mission is to empower her clients to make informed decisions through data-driven insights and local market knowledge.  Her passion is helping others find quality of life through Real Estate. She invites you to follow her on Facebook at, call or email her for the SUMMER 2021 Home Buyer and/or Seller Guides or for a complimentary market analysis.


Judy Boyle, Realtor®

Proudly serving  the Borough’s  and Beyond with honesty and integrity since 2003

[email protected]


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