Local markets spotlights 5 different areas across the country, showcasing what is uniquely happening in those housing markets. Local real estate agents, loan officers and appraisers share what characteristics are currently defining their housing markets.
Boyd Campbell, a broker at Century 21, has a somewhat reassuring perspective on the current housing market. “The demand for homes is the highest it’s been since 2006,” Campbell said. “But the distinctive difference today is the profile of the buyer. Back then, people really wanted a house but were not qualified to get a mortgage. Today, I am amazed by how many buyers are not only qualified but overqualified.” The median single-family home in Annapolis has jumped 8% in the past year to $476,000, according to numbers Zillow compiled in February. “People are getting priced out of Annapolis,” noted Campbell, who has been a real estate agent in Maryland’s capital for four decades.