Prices were dropping fast in the spring. A friend bought a 2000sqf house with pool for 400k in a very decent area close to the city. This was down 20% from a year earlier. Still expensive by American standards.
Pull down the Case-Schiller data from here. If you trend the Boston data in the last 3 years you’ll see it has recovered each year between March and June, but then trended down again over the autumn and winter months. The overall trend is downward though. Here’s the data:
Could it be possible that Boston acutally is different…?
Until quite recently there has been a chronic shortage of quality rental stock. Then factor in all the universities, medical facilities and tech enterprises… it sucks in lots of renters from all over the country. It just seems that many things contribute to a strong and resistant rental market.