With interest rates rising and the nation’s housing market on the ropes, you may be wondering if it’s still a good idea to pursue a real estate career in Boston.  While the short-term market outlook may not look too promising, there are still plenty of good reasons to start a rewarding career in real estate.  Here are a few reasons why:

1. Boston’s Economy Is Still Growing

Boston has emerged as one of the biotech capitals of the world over the past decade.  Boston-based startups have consistently increased the total amount of VC funding raised over the past 5 years, and Boston has solidified itself as the 3rd largest metro in the US by total VC funding raised.

What this means is that the city is adding new high-salaried positions in the tech and medical industries.  These jobs attract white-collar professionals looking to the city with high budgets for housing.  This is why home prices have grown in Boston so rapidly in the past decade, and it’s also why they will continue to do so after the recession.

2. Boston’s Housing Supply Is Low

Boston is a densely populated city that is struggling to keep pace with rising housing demand.  Shortages of both rental and for-sale properties have been a big driver in housing cost increases in the past few years, and that is not likely to change any time soon.  Whenever there is not enough supply to meet demand, selling real estate becomes much easier.

3. Tons of Real Estate Jobs Out There

Real estate is not a career for everyone, but those that do it well can earn a fantastic living.  For that reason, turnover is high and there are always Boston real estate jobs available to be had.  If you’re a self-starter, motivated, and positive individual, you have the skill set needed to be successful in real estate.

Conclusion

In conclusion, a down market is no reason to hold off on pursuing your dreams.  If real estate is the industry you see yourself in, now is a perfect time to get in.  You can learn the industry and build your network during the down economy so that when it picks back up again, which it always does, you’ll already be acclimated.