5 Compelling Reasons to Buy Now!

Graph shows rates from 1972 through February 2009

The real estate market in Anne Arundel County is experiencing a renewed buyer interest as a result of a convergence of changes in the market place that have created  5 compelling reasons for the consumer to buy and motivated sellers to sell.

1. Inventory is down 25.5% when comparing  January 2008 vs. 2009
2. For the year 2008 vs. 2009 inventory is down 14.6%
3. The affordability index has climbed to 152% - The affordability index measures housing affordability for the MRIS (regional multiple list) region, the higher the number the more affordable housing is. 
4. Last February  the affordability index was 119%
5. Rates are at historic lows

The news media will start to report the market upswing eventually, but since they report settlements ( from sales that happened 2 months ago) and not the  new sales written it will be a couple of months before they catch up.