In the realm of real estate, the question of whether to buy a house now or wait for a better opportunity is a common dilemma. Potential homebuyers must carefully weigh various factors before making a decision. In this article, we explore the advantages and disadvantages of buying a house in the current market compared to waiting for a potentially more favorable future. 1. Favorable Interest...
Here are the highlights for the week ending July 2, 2023: Weekly new listings down in advance of the 4th of July holiday. Listing activity is down seasonally and remains well below where it was a year ago. Potential sellers are sitting tight as the number of weekly new listings is down 19.3% compared to the same time a year ago. New listing activity will remain low as elevated mortgage rates are...
No price relief for buyers. List prices continue to rise as we head into summer, tracking above last year at this time. The scarcity of supply continues to put heat on competition for buyers, and it is likely this trend will not relent for some time. Listings remain stagnant. Listings are down -3.2% from last week but are down -29.8% from a year ago in Washington, DC. Homeowners are very reluctant to...
In recent times, the housing policy of Montgomery County has found itself at a critical juncture. The county's approach to housing regulation and development has become a subject of deliberation, prompting a closer examination of the potential paths it may take. This article aims to provide a professional analysis of the current state of affairs, shedding light on the challenges faced and the potential...
Here are the highlights for the week ending June 18, 2023: - List prices see a summer increase. List prices increased slightly over the previous week. While the median list price is up only +0.2% over last week, the consistent strain on inventory continues to drive prices up for buyers. - Competition continues heating up. Competition among buyers is still intense as the median time to contract is...
I've had the incredible privilege of being featured in Maryland Realtor Magazine Vol LVII Jun/Jul 2023 where we talked about Diversity, Equity & Inclusion (DEI) and also lead the MARYLAND committee as the Chair for our esteemed CCIM MID-ATLANTIC chapter. If you're immersed in the commercial business realm, brace yourself for a wave of excitement as we have an array of captivating commercial education...
Here are the highlights for the week ending June 4, 2023: Dip in new contracts. As expected, there was a decline in new contract activity in the Mid-Atlantic for the week ending June 4, 2023. After the lower showing traffic last week, fewer offers and acceptances followed. In good news, that means a rebound is anticipated next week. But contracts continue to lag their 2022 peers as interest rates now...
The week ending May 28, 2023, saw a drop in new listings and showing traffic due to the Memorial Day weekend. The Mid-Atlantic region experienced a decline of 14.8% in new listings compared to the previous week and a 26.0% decrease compared to the same week in 2022. This year's new listings have consistently lagged behind 2022, leading to low inventory levels. Buyer showing traffic also...
Montgomery County is experiencing a significant housing shortage, affecting everyone from teachers and immigrants to young families and seniors. As the county grapples with addressing this issue, there are three major factors that could play a significant role in shaping the future of housing: Thrive 2050, the Purple Line, and rent stabilization legislation. In this comprehensive article, we will discuss...
Highlights for the week ending May 21, 2023 The number of new listings in the Bright MLS footprint has been gradually increasing, although at a slower pace. Compared to previous years, there is a noticeable decrease in the number of new listings. For the week ending May 21, 2023, new listings are 24.0% lower than the same period last year. Despite the absence of the usual spring surge in listings, there...