Boston Housing Report - thebubblebuster.com

SUMMARY HISTORY PEAKS & TROUGHS FORECASTS

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The Boston housing market has seen a continued decline from the remarkable price increases of years past. The continued sharp declines in sales activity has increased the number of homes on the market and is continuing to force sellers to lower their expectations. Further sales and pricing declines should be expected, particularly if mortgage rates move higher due to poor affordability.

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Nominal Price Activity		Boston	National	Comment
.	Quarterly Appreciation (Q4:2006 – Q1:2007)	-1.0%	-1.8%	Poor
	Rolling Year Appreciation (Q1:2006 – Q1:2007)	-1.6%	1.7%	Poor
	Last Year Appreciation (2006)	0.1%	5.9%	Poor
	Rolling 5 Year App. (Q1:2002 – Q1:2007)	43.6%	50.1%	Fair
	Historical Average Annual Appreciation	8.5%	6.0%	Strong
Real Price Activity		Boston	National	Comment
.	Quarterly Appreciation (Q4:2006 – Q1:2007)	-1.8%	-2.5%	Poor
	Rolling Year Appreciation (Q1:2006 – Q1:2007)	-4.5%	-1.3%	Poor
	Last Year Appreciation (2006)	-2.9%	2.8%	Poor
	Rolling 5 Year App. (Q1:2002 – Q1:2007)	26.4%	32.1%	Fair
	Historical Average Annual Appreciation	4.4%	1.8%	Strong
Affordability Activity		Boston	National	Comment
	Mortgage-Debt-to-Income Ratio* (Q1:2007)	27.0%	21.1%	Unfavorable
	Historical Mortgage-Debt-to-Income Ratio*	22.8%	19.8%	Slightly High
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*	This ratio compares the monthly mortgage payment (principal & interest only, which does not include hazard insurance, property taxes or any needed private mortgage insurance) for a median priced home financed at the prevailing 30 year mortgage rate to the local median 4-person family income.
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	Boston historical data is for the time period of Q1:1978 – Q1:2007
	National historical data is for the time period of Q1:1975 – Q1:2007

BOSTON, MASSACHUSETTS - Q1:2007