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Can I Buy a Maryland Home in 2024?

April 23, 2024
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Is 2024 the year to buy a new home? Let’s take a look.

The Maryland housing market, let alone the nation’s housing market, is in an interesting position in 2024. There are multiple questions regarding when and where to buy. Should you wait until the market “crashes” or snag a deal before prices rise? Is it a good time to sell or keep your current home? Can I buy a Maryland home in 2024?

The Maryland Housing Market in 2024 So Far

In the first half of 2024, housing prices continue to rise, interest rates remain above what they were several years ago, and housing inventory is dropping. Many current homeowners are holding onto their low interest rate mortgages, so fewer people are motivated to sell. At the same time, Maryland has many interested buyers, and listings are sold usually above the asking price in a week. Maryland’s growing population and multitude of interested buyers is a good sign. 

According to Forbes, the problem is on the other side, with the number of homes available and the affordability of those homes. Lenders are offering ways to make homes more affordable, like mortgage buydowns and incentives. New home builders also have attractive incentives and construction-to-permanent financing. 

Can I Buy a Maryland Home in 2024?

If you are already a homeowner, now could be a great time to sell your home at top dollar and get a quick sale. If that sounds appealing, be prepared to compete with many others for existing homes for sale and read up on ways to save and get deals on your mortgage

Is New Construction a Good Option for Me?

New construction homes are customizable; there is a lot to love about them! They also come with home inspections, good warranties, and entire teams in place for you to fulfill your project. Anne Arundel County is in the middle of Maryland’s housing market, neither the most nor the least expensive area, but one of the best places to be for proximity to Baltimore and D.C. 

There are many reasons to move house, and if now is the time for you, consider new home construction with Ameri-Star Homes!

Let Ameri-Star Homes Build Your New Custom Home!

Ameri-Star Homes was built on the idea that a home is not complete until the homeowner is 100% satisfied. That’s right, completely satisfied homeowners. Whether you want a home built on one of our home sites or on your own land, count on the same high quality from Ameri-Star. We have set out to exceed all your expectations of integrity, affordability, and customer satisfaction. Build lasting memories for years to come with Ameri-Star Homes. 

For more information, contact us today at 410-590-1000 or through our contact page. For more helpful custom home tips, keep in touch with us through Facebook, Twitter, LinkedIn, and Pinterest!