2013 is poised to be a very good year for real estate! The Montgomery County, MD real estate market healthy. In the past month, there have been over 500 real estate transactions with a median sale price of $362,000.
RE/MAX: Housing Closes 2012 Strong,
2013 Set for Gains
The report, which covers 52 metro markets, shows a broad recovery all across the country, with both sales and prices rising almost every month in 2012.
While home sales in December dropped 4.9 percent month-over-month (following the standard holiday pattern), RE/MAX’s data shows a 3.8 percent year-over-year increase. This marks the 18th straight month in which sales improved on a yearly basis.
Of the 52 markets tracked for the report, 34 posted higher sales than in December 2011, and 16 of those markets saw double-digit gains.
Prices gave an even stronger performance as 2012 came to a close. According to RE/MAX, the median price for homes sold in December was $166,250, 1.8 percent up from November and 7.6 percent up from December 2011. December was the 11th consecutive month to see year-over-year price improvement. Read More >
Why the U.S. Housing Market Is
“Home Sweet Home”
George Leong writes: It was extremely difficult times for homeowners following the subprime mortgage implosion that helped to drag down the global economy in 2008. I recall how easy it was to get a mortgage without even having to provide an income or work history to the lenders. When an entry-level worker at McDonalds Corporation (NYSE/MCD) can get a mortgage with no questions asked, you have to wonder how long it might be before a housing bubble surfaces.
Luckily, after several years of the housing market being dragged through the mud, the current situation has vastly improved to the point where housing stocks are hot.
The declining mortgage rates have helped. The $40.0 billion in mortgage-buying by the Federal Reserve each month has driven down the cost of interest rates to record lows.
More people are working now, and with the jobs picture improving (albeit, at a slow pace), I expect the housing market will continue to strengthen.
Wherever you live, it’s clear the housing market is displaying much-improved industry metrics. We just saw another strong housing starts and building permits reading.
In December, there were an impressive 954,000 annualized starts, which is above the Briefing.com estimate of 880,000 and November’s 851,000.
Image(s) courtesy of: FreeDigitalPhotos.net
To search an entire database of homes for sale in real-time with photos, descriptions, and community information, please visit my website: www.premiermarylandhomes.com
Rick Reed, G.R.I., CDPE- Certified Distressed Property Expert
Assoc. Broker/Owner "The Congressional Team" RE/MAX
Licensed in MD & Wash DC
8937 Shady Grove Court
Gaithersburg, MD 20877
Office: 240-403-0399 X306
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