Despite all the gloom, however, there are growing indications that it is a good time to buy. Mortgage rates, which fell to 4.55% for the week ending June 2, according to Freddie Mac, are near 50-year lows. Homes have become more affordable than they have been in years. More
The chart below provides some very valuable information for the Baltimore/DC region and other sections of “MRIS country”. As we’ve reported, median prices in many markets have dropped from the stimulus-driven 2010. However, Core Logic’s analysis shows DC, West Virginia, Virginia and Maryland (in that order) have performed better than most other cities. The bottom line here is that for our region, again for the most part, purchasing a home presents a solid long term opportunity. This is indeed good news to be shared!