Despite some repeated
warnings that the housing boom would cool off this year, sales are
up and demand for housing is as strong as it was at the beginning
of the year. However, with interest rates rising, though slowly,
the second half of the year could see a market altered in its dynamics…let’s
see what the experts have to say about it…
Washington Hoy
05/27/2005
We will still be experiencing a strong market and prices will continue
to escalate. The number of homes for sale are far less than the
demand. Although interest rates are slightly higher than what we'd
been seeing, the availability to new mortgage programs with interest
only payments still make the purchase of a home accessible to many,
keeping the housing market moving at strong levels.
Daisy Zambrano, Proplocate Realty
June and July will be the peak of the season in real estate activity
and prices. The demand is at it's highest; families are trying to
settle in before the school year begins and that always heats up the
market.
Héctor Velásquez, Re/Max Premier
We will be seeing a very dynamic market with prices still going up
due to the stronger demand for housing. The fact that interest rates
are still very attractive, stimulates even more an already home-hungry
buyer.
Marjorie Suárez, Remax Olympic
This market is strong because, in my opinion, this not a market of
just one kind of business. We have all kind of professionals: at the
federal level, states level, international organizations, embassies,
among others. These people with stability and high incomes help this
market to be very dynamic.
My prediction for the second half of 2005 is that the real estate
market will continue to be strong, as long as the interest rates keep
below 8%, and as long as people keep coming to fulfill the rotating
jobs.
Fabiola Bishop, Long & Foster Realty
It is not easy to predict despite the fact that there are few houses
for a great demand. Inside the Beltway the market is getting not too
flexible, there are no spaces to grow and people want to be close
to their working places.
Sonia Ruiz, Long & Foster
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