The Greater Boston housing market saw steady sales and healthy price appreciation along with a continued shortage of supply of homes for sale in January 2017.

Most of 2016 offered the same monthly housing market highlights. The number of homes for sale was drastically down in year-over-year comparisons, along with days on market and months of supply.

As we enter the final quarter of 2016, not much has changed since the year began. Market predictions have been, in a word, predictable. A relatively comfortable pace of activity has been maintained thanks to continuing low unemployment and mortgage rates.

As anticipated at the outset of the year, demand has remained high through the first three quarters of 2016, propping up sales and prices despite heavy reductions in inventory and months of supply across the country.

I had the pleasure of previewing the recently gut renovated, historic Hooper Mansion and WOW! This three exposure building located on Beacon Street accommodates three parlor and garden level duplexes, two floor through condominiums, and a penthouse duplex that is sure to impress even the most modern critic.

There are many benefits to homeownership. One of the top ones is being able to protect yourself from rising rents and lock in your housing cost for the life of your mortgage.

So if housing inventory is measured in months of supply where less than 6 months is considered a seller's market and greater than 7 months is considered buyer's market, what are the differences between and features of the two different markets?

• Paying rent is not a good investment, but owning is a great way to start building family wealth.
• Not only does homeownership allow you to provide your children with great education, but you can also decide whether or not your child grows up with a pet.

As many of you who follow this blog have read in my other posts, I cringe every time Zillow is cited as a credible source of local real estate market information.

Be sure to check back often as this page is updated hourly. And when you're on the go, navigate over to unitboston.com on your mobile device to find open houses close to wherever you are using our Mobile "Near Me" Search feature with advanced options turned on.