- Employment trend – positive monthly job growth 23 out of the last 24 months.
- Consumer confidence – continued upward trend signifies growing confidence of consumers.
- Mortgage rates – Mortgage rates are below 3.5 percent and should remain low through 2013.
- Home affordability – Affordability is at historic highs, representing the impact of low rates and the home price adjustments of 2008-2011.
- Home price stabilization – Home prices have stabilized and even appreciated in most parts of the Mid-Atlantic and across the country as a whole over the course of 2012.
- Investor demand – Investors are purchasing residential real estate at a rate not seen for decades, which confirms that residential real estate pricing is attractive.
- Buy vs. rent economics – Vacancy rates are decreasing, rent prices are rising, and affordability to buy is at all-time highs. The cost to buy is more attractive than renting.
Please give me a call if you’d like to buy or sell a home. I’m here to help!