Michael Snedeker, the executive vice president of Elite Building Corporation in Waltham, Massachusetts, works on the development and construction of commercial real estate projects. Michael Snedeker’s office serves the Greater Boston Area and beyond, offering in-depth expertise for any construction project.
The Massachusetts real estate market has seen its share of ups and downs over the past several years. Experts note that the year 2005 was a high point for real estate prices in the state, mirroring the pre-meltdown statistics for much of the rest of the country. Even overinflated home prices typically resulted in sales.
The crash led to a dismal situation in 2008 and 2009, followed by several more years of a slow market, with 2012 beginning to show a turnaround. For many real estate professionals, 2016, 2017, and 2018 produced strong prices once again.
At the start of 2019, Massachusetts’ recovery still looks strong, with the state’s range of technology and healthcare industries continuing to draw new residents and keep prices up. Other overall economic factors appear strong - the state shows one of the highest per capita gross state products, and the unemployment rate stands at only 3 percent as of April 2019. Massachusetts is also home to a dozen or so companies that rank among the Fortune 500.