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PCSing to Fort Meade need housing?
Pcsing to Fort Meade need housing?
Hire a Realtor for purcashing a New home in Waldor, Maryland?
Fort Meade off-post housing?
Where should I live when I PCS to Fort Meade, Andrews Air Force Base, PAX?
Two Things in Your Corner:Mortgage Rates & Home Prices
1. Low Mortgage Rates
Today’s low mortgage rates are not just low – they’re hovering near historic all-time lows. The even better news? According to Freddie Mac, rates are forecasted to remain low through the first quarter of next year (see graph).
Lawrence Yun, Chief Economistat NAR, says: “After a pause, home sellers are gearing up to list their properties with the reopening of the economy…Plenty of buyers also appear ready to take advantage of record-low mortgage rates and the stability that comes with these locked-in monthly payments into future years.” Whether it’s your first home, your dream home, or a long-anticipated downsizing move, if you’re thinking of buying, now may be an ideal time to lock in a low rate.
2. Home Price Appreciation around Fort Meade MD
In addition to low mortgage rates, home prices are a bright spot for buyers as well. According to forecasts from leading expert institutions, prices are projected to continue rising this year, though not as quickly as they were coming into 2020. Dr. Frank Nothaft, Chief Economist at CoreLogic notes: “The very low inventory of homes for sale, coupled with homebuyers’ spur of record-low mortgage rates, will likely continue to support home price growth.” Projected appreciation, even when small, is great news, as it indicates the value of a home you buy now will continue to grow. That’s positive equity going straight into your pocket as a homeowner. According to the Realtors Confidence Index, buyer demand is also outpacing seller traffic. This means there are many more buyers on the market looking for homes today than sellers listing their houses. This law of supply and demand is a big factor that’s keeping home prices in check.
Mark Fleming, Chief Economist at First American says:
“Housing supply remains at historically low levels, so house price growth is likely to slow, but it’s not likely to go negative.” With demand still stronger than supply, meaning more buyers on the market than listings available, home values should not depreciate. With that information in mind, you can feel confident about buying in the current market, if the time is right for you. Bottom Line Mortgage rates are hovering near historic lows and prices are not forecasted to depreciate. If you’re thinking about buying a home, now may be a great time to lock in a low mortgage rate and make your next move.
Hire Skip Young Relator® for your next Home Purchase or Sale
If you are stationed here and are looking to purchase or sell a home please contact Skip Young Realtor®:
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Skip Young | EXP Realty | Fort Meade MD Realtor®
Realtor®, Veteran, New Home Sales
888-860-7369 x 240 Broker
137 National Plaza, Suite 300
National Harbor, MD 20745
Military MD Realtor® | Veteran | eXp Realty | Author | VAREP Director of Government Affairs Greater Annapolis Chapter
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