The last recession had a devastating impact on the residential real estate sector in Baltimore. Prices crashed, the inventory expanded with few takers and banks were left reeling with bad loans. The city and the state of Maryland have recovered from the negative fallout of the financial crisis. It took several years for the housing sector to regain its strengths. Today, the inventory may be large but there are buyers and the average wait time on market is the least in almost a decade. The residential real estate sector grew throughout 2018 and it is growing further in 2019.
Baltimore has emerged as one of the top destinations for the younger generations to move to in Maryland. The city has also witnessed robust economic growth and this is not limited to the real estate industry. Many other industries have grown in the last five to seven years with some recording double digit growth rates. Investors have responded too. Many investors have been flipping houses and others have ventured into vacation and rental properties. Companies like Dependable Homebuyers have done brisk business and expanded throughout the state. Evan Roberts, the founder of the top We Buy Houses company, says that his real estate investment firm has developed a nationwide presence in the last nine years.
The growth story in Baltimore has been fascinating, especially in the last two years. Home prices have appreciated, thereby increasing the returns on investments of companies like Dependable Homebuyers. The increasing home prices have not dampened the buying spree among first time home buyers. The rate increases by the fed have also not affected the inventory or the sales in the city of Baltimore and the surrounding areas. The inventory is finely poised as it meets the demands of buyers. Dependable Homebuyers and other investment firms are playing a key role in this by facilitating quick sales and paying top dollars for pre-owned houses. Here's a recent press release they published.
Baltimore is one of the few major housing markets where appreciating home prices have not lead to an affordability crisis. There are some markets where prices have risen so much that first time home buyers are finding houses unaffordable. Baltimore has also not been affected with any slowdown in new home construction. While pre-owned houses remain in demand, new home construction in many areas has continued to fuel the growth of the sector as a whole. People have distinct preferences in the city. Those who are in favor of new homes are exploring relevant inventories. Those who want to downsize, upgrade or just move to another location due to some reason are also exploring relevant listings.
Evan Roberts says that the market has sufficient options for everyone, regardless of the specific preferences buyers have. Sellers too have become increasingly aware of the market conditions. Dependable Homebuyers is playing a key role in this with their information campaign and holistic consultations. The company has made several resources available to both sellers and buyers so they can continue to make informed decisions. For more information about the company and the services they provide visit https://drive.google.com/a/dependablehomebuyers.com/file/d/1m4cnWomRYLNQO-0s9vb4XlLzfqkmnH2-/preview.
SOURCE: Press Advantage [Link]
Dependable Homebuyers is a local home buying company in Baltimore, MD. We buy houses in any condition and any situation. If you want to sell your house fast, give us a call at (443) 266-6247 and we’ll provide you a cash offer within 24 hours.
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