Looking to purchase a home this Fall when your moving to Fort Meade, MDStart by hiring your Army Veteran Realtor local to your Real Estate Market and a high-speed low drag Army Ranger to make sure
Buying a Home This Fall of 2021 around Fort Meade MD
Dated: September 26 2021
Looking to purchase a home this Fall when your moving to Fort Meade, MD
Start by hiring your Army Veteran Realtor local to your Real Estate Market and a high-speed low drag Army Ranger to make sure you get the home your looking for.
As the weather new Fort Meade, MD begins to cool, the real estate market will remain red-hot.
Here’s a dive into some of the biggest wins for homebuyers this fall.
Earlier this year, the number of homes available for sale fell to an all-time low. In recent months, however, the housing supply has started to trend up. This is good news for buyers who crave more options. Odeta Kushi, Deputy Chief Economist at First American, says:
“It looks like existing inventory is starting to inch up, which is good
news for a housing market parched
for more supply.”
According to data from realtor.com, median rental prices just reached their highest point ever recorded. Let’s compare today’s median mortgage payment to the median rent.
According to the National Association of Realtors (NAR), the latest data on homes closed shows the median monthly mortgage payment is $1,255. By contrast, the median national rent is $1,607 according to the most current data provided by realtor.com (see graph below). That’s a difference of $352 dollars each month.
If you’re a renter, it may be time to consider purchasing a home so you can lock in your housing expenses for the life of your loan and avoid future increases.
Last year, we saw the lowest mortgage interest rates in recorded history as they fell below 3% for the first time ever. This season, they’re still incredibly low compared to the historic norm. According to the latest quarterly forecast from Freddie Mac:
“. . . while we forecast rates to increase gradually later in the year, we don't expect to see a rapid increase. At the end of the year, we forecast 30-year rates will be around 3.4%, rising to 3.8% by the fourth quarter of 2022.”
Today’s low mortgage rates help boost your purchasing power, but it’s unlikely they’ll last much longer. Buying sooner rather than later is the best way to get more house for
Investopedia defines appreciation like this:
“Appreciation, in general terms, is an increase in the value of an
asset over time.”
Over the past year, we’ve seen home prices rise across the country. And according to expert forecasts, that appreciation will continue through 2025.
This should help you feel confident that buying a home this year is a strong
If you’re worried about what that means for affordability today, remember that current mortgage rates help boost your purchasing power and keep your monthly payments more affordable.
Let’s connect if you’re ready to buy so we can get your journey to homeownership started and you can capitalize on today's unique housing market opportunities.
Waldorf MD Homes for Sale Are you are stationed here and are looking to purchase or sell a home please contact Skip Young Realtor®: Marine Barracks Joint Base Anacostia-Bolling PSD Washington, DC....
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