Waiting for equilibrium
He said in a press release that he thinks this wave is creeping north:
As long as year-over-year totals continue to increase in Maryland, we should see that market continue to improve, first in the D.C. suburbs, and then in the Baltimore region. Assuming things continue as projected, the spring of 2010 should see price stability in Maryland and another wave of buyers entering the market.
More specifically, he said: "While we do not expect the Baltimore region to improve as quickly as the Maryland side of Washington, D.C., it should continue to slowly tighten during the next 12 months, perhaps with the core counties reaching equilibrium in mid- to late 2010.”
Equilibrium in a housing-market sense means buyers and sellers in basically equal numbers.
Do you agree with Wenhold's forecast?