2015 Boston Area Economy Update

Residents of the Boston area will be happy to hear that, according to market specialists, the Massachusetts region is growing at an impressive rate in many sectors of the economy. Our team at Buyer’s Choice Realty gathered all of the important aspects of the 2015 Boston area economy update.

An update on the 2015 Boston area economy update looking ahead

2015 Boston Area Economy Update – Growing Strong

According to the Massachusetts Benchmark journal put out by the University of Massachusetts Donahue Institute and the Federal Reserve Bank of Boston, the Boston area economy is going to experience strong growth throughout next year. For starters, state gross product growth has matched the strong national growth for the past two quarters. The same goes for labor market with new jobs being added at an impressive rate, especially in the software, information technology, and staffing services sectors.

Additionally, it seems like more and more people, attracted by the plethora of opportunities, move to the Boston area. Massachusetts has the fastest growing population in all of the northeastern United States. The Boston area seems to attract a greater number of international immigrants comparing to other places in the Northeast.

The Boston Area – 2015 Internship Destination

Our 2015 Boston area economy update also takes a look at the internship opportunities within the city, as an important aspect of a growing market. If you’re a college student looking for an intern in 2015 you should consider Boston Consulting Group which is one of the best management consulting firms in the world, and repeatedly it has been voted as a “Best Company to Work For” by Forbes Magazine. Other great companies to apply with include Houghton Mifflin Harcourt and New Balance.

The Boston area is a great place to live, learn and work with it’s attractive career opportunities, strong market and beautiful scenery. If you enjoyed our 2015 Boston area economy update and would like to get more news about our local market find Buyer’s Choice Realty on Facebook and follow us on Twitter!

Boston Area Consumer Confidence in High Gear

Boston area consumer confidence, led by high hopes for the Boston area housing market, has recovered from its doubts in the wake of the government shutdown last fall and is starting the new year on a tear.

Boston area consumer confidence appears to be in high gear.Two weeks ago economists at The Conference Board forecasted that for the year as a whole growth will accelerate markedly to 2.9% in 2014 from the subdued 1.9% pace in 2013. The robust gains in household net worth, fueled by the 29% gain in equity prices and 16% rise in median home prices, boosted consumer spending to a robust 4% pace in Q4 2013. The Conference Board set a goal of 1.11 million housing starts this year, up from .92 million in 2013.

“Consumer confidence advanced in January for the second consecutive month,” according to Lynn Franco, Director of Economic Indicators at The Conference Board. “Consumers’ assessment of the present situation continues to improve, with both business conditions and the job market rated more favorably. Looking ahead six months, consumers expect the economy and their earnings to improve, but were somewhat mixed regarding the outlook for jobs. All in all, confidence appears to be back on track and rising expectations suggest the economy may pick up some momentum in the months ahead.”

Housing Professionals Watching Boston Area Consumer Confidence Closely

Boston area housing professionals are watching Boston area consumer confidence trends closely as they prepare for the coming spring market. With inventories still low and uncertain interest rates raising questions about buyer demand, decisions buyers and sellers are making now could shape sales and price trends for the coming season—and the whole year to come.

We’ll keep you up to date on Boston area consumer confidence and housing here at our website as the year progresses. Check out our other news articles and information at the Boston Real Estate News link to your right under Boston Real Estate Categories.

Better Boston Area Economy Expected As Population Grows

The Greater Boston Area economy is expected to improve over the coming year just as it was announced that the population grew by about 90,000 over the past two years, according to new U.S. Census Bureau estimates issued yesterday. About 4.6 million people now live in the Boston-Cambridge-Newton area, according to the Census.

The Boston Metro Area stayed at No. 10 in the nation’s population rankings. The Census Bureau issues annual population estimates for all metros, micros and counties across the country, based on its analysis of birth, death and immigration records.

Yesterday’s estimates were the first to be released since the U.S. Office of Management and Budget redefined the borders of all metros and micros — and changed some of their formal names — a month ago.

Better Boston Area Economy Expected

The Greater Boston area economy is expected to improve in the coming year as the population continues to grow.The majority of Metro Boston business leaders believe the Boston area economy will improve over the next 12 months, but they are less optimistic than they were last year, according to a new survey.

At the Greater Boston Chamber of Commerce’s annual economic outlook breakfast Thursday, 57 percent of business leaders said they expect the Boston economy to be somewhat better over the next 12 months, down from 66 percent last year.

This year’s top challenges facing the Greater Boston area economy, they said, were the cost of living, followed by the cost of health care and deteriorating infrastructure.

More than half of the business leaders — 57 percent — said they expect either a significant or a slight increase in their hiring plan for this region in 2013, compared to 50 percent last year. 8 percent said they expect a slight or significant decrease in hiring, down about 9 percent from last year.

To stay abreast of the latest on the Greater Boston area economy, check out our articles on the Greater Boston area economy and our Boston Real Estate News, both under the Boston Real Estate Categories to your right.