The lack of supply within Boston, and all Metro Boston markets, has bottlenecked buyer demand. There is not nearly enough homes for sale to satisfy the number of buyers looking to purchase. This has been an ongoing theme since the drastic rise in interest rates. Rates are currently 2x+ what many home owners currently have on a 30 year fixed mortgage. This has all but eliminated any motivation for an owner to sell. After all, why sell a home that has a mortgage rate of 3% to buy something at 7%? Even if it is an upgrade. The financial discrepancy on cost is not being offset nearly enough by an upgrade of property quality, size, or location. Compounding this predicament is the fact inflation and cost-of-living has not gone down by any substantial measure. The whole intent of interest rates being increased by the Fed was to curb inflation. I think we can all say it has not yet worked… while creating collateral damage within the housing market (among others). This is going to have a generational impact as many younger people simply cannot afford to buy, leaving them void of a historically strong and stable asset as time goes on.