One of my buyer clients recently asked me this question out of frustration. And when I opened the Baltimore Sun this morning an article appeared that appropriately described the current situation (which I had already relayed to her, but nonetheless added credibility to my observations). Basically, with lower housing inventory, low interest rates, and high rents, we have now have a perfect storm for housing prices to stabilize and start to rise. I have definitely seen this with my clients. Homes that are priced and show well are not remaining on the market long or experience bidding wars. The other factor that is driving this market is the influx of purchases being made by the 23-30 year olds who have been renting for a couple of years and tired of paying high rents. They have seen prices drop enough that it makes financial sense for them to purchase – and they are doing it in droves. They then rent out the extra rooms to their friends. Pretty savvy if you ask me. If you would like to check out this article please click the below link for the article entitled “After years of losses, price increases creep back into the Baltimore-area housing market”
Feel free to call me if you have questions about home buying, your local market, or need recommendations for a lender.
Published on 2015-07-18 07:33:53