Milestone Germantown MD | Moving Up to Your Dream Home? Don't Wait!
At a local level in Germantown Maryland, buyer confidence remains strong with some changes that varies on the price level and whit type of houses they are looking for.
Particularly in and around Milestone 20876 zip code. The addition of new store and business entities in the area makes Milestone one of the most busiest areas in Germantown.
As you are aware, for most families, choosing a new home is the biggest financial decision they will ever make and for that reason, there are many complicated decisions involved in choosing your new home.
Today I would like to talk to you about Moving Up to Your Dream Home? Don't Wait!
Mortgage interest rates have risen by more than half of a point since the beginning of the year, and many assume that if mortgage rates rise, home values will fall. History, however, has shown this not to be true.
Where are home values today compared to the beginning of the year?
While rates have been rising, so have home values. Here are the most recent monthly price increases reported in the Home Price Insights Report from CoreLogic:
* January: Prices were up 0.5% over the month before.
* February: Prices were up 1% over the month before.
* March: Prices were up 1.4% over the month before.
Not only did prices continue to appreciate, the level of appreciation accelerated over the first quarter. CoreLogic believes that home prices will increase by 5.2% over the next twelve months.
How can prices rise while mortgage rates increase?
Freddie Mac explained in a recent Insight Report:
“In the current housing market, the driving force behind the increase in prices is a low supply of both new and existing homes combined with historically low rates. As mortgage rates increase, the demand for home purchases will likely remain strong relative to the constrained supply and continue to put upward pressure on home prices.”
If you are thinking about moving up to your dream home, waiting until later this year and hoping for prices to fall may not be a good strategy.
To protect your interests and assure that you make the best possible decisions,
it's important that you have a knowledgeable agent on your side who is an expert in the local real estate market.
We are dedicated to keeping you on top of our local market. Rest assured that we will provide you with a well-informed,
and the most updated strategic view for your home purchase in Germantown Maryland
To reach us, please call 301-246-0001
or send us an email info@ReallyNiceHomes.com
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