This is a good time to buy in the DC area.

1.  Interest rates are still low.  30 year fixed rate loans are averaging 4.16%.  Many economists are predicting 5% rates next year.  Higher interest rates mean higher monthly payments and less homes that you can qualify for.

2.  There’s more inventory as the fall market heats up. And as more property enters the market, prices stabilize.

3.  Home Prices are going up.

4.  Rents are Sky-High.  You have to pay a mortgage, whether it’s yours or your landlord’s.  Home ownership forces you into saving.  Your mortgage payment stays the same year after year.  Your rent goes up year after year.

5.  Employment is on the rise.  This lends financial stability. If your employment prospects look good, it just may be the right time to buy a home.

To read more click here. Top 5 Reasons to Buy a House Right Now – Real Estate News – realtor.com.