According to a recent report from Global Insight, an economic and financial analysis forecasting firm, current housing statistics indicate that now is the right to time to buy.
They claim that the U.S. housing market as a whole is undervalued by 3.8 percent. Global Insight analyzed 330 metropolitan areas in the United States and found that 241 metro areas experienced price declines in the third quarter of 2008 in comparison to 150 metro areas in the second quarter.
The markets that were hardest hit were in areas that were most overvalued three years ago. This study, a combined effort by HIS Global Insight and National City Corporation represented 78 percent of all existing housing units in the United States.
Low interest rates and increased affordability make today’s market a buyer’s dream!
Source: Global Insight (12/03/2008)
The moral of the story is: If you have ever thought about buying a home in the Baltimore area, NOW IS THE TIME TO DO IT! Interest rates are low + prices are low. GRAB YOUR DEAL NOW!
[…] Contracts are starting to flow in & out of my Timonium Real Estate Office. Baltimore Real Estate buyers are starting to realize that they need to get in NOW while the prices AND interest rates are LOW. […]