With the 2018 spring real estate season underway, prevailing market conditions in the Baltimore area are cause for excitement. Interest rates are rising, but still low. The economy is strong, and Maryland has been steadily adding jobs, with the highest growth in the Baltimore metro area of Baltimore-Columbia-Towson, according to the Maryland Department of Labor.
House prices are steadily rising too. Median prices in the Baltimore Metro area rose 6.5 percent in February over last year’s prices, with Baltimore City showing close to an 11 percent increase. Like it or not, rising prices are an indication of a healthy real estate market, with inflation likely to drive prices even higher in the future.