Buying a home

2013: It’s going to be a great year!

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As we ease into 2013, there are strong signs that long term fundamentals for the housing market,including Washington DC metro area, are as positive. Signs include:
 
  • 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!

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