Although experts predict it will take time for the economy to fully recover, there has been a lot of encouraging news recently.

• The percentage of first-time buyers dipped to 29 percent as a result of more repeat buyers entering the market, suggesting signs of a return to a more balanced market.

• Americans have shifted into savings and are now putting away a larger portion of their income – so much that the U.S. savings rate has now surpassed that of Canada!

• Home prices edged up almost 4 percent between May and June of 2009, due to repeat buyers purchasing at higher price points, and distressed properties accounting for a smaller percentage of sales (33 percent of sales, compared to 45 percent the month before).

For a look at local market conditions, please contact us by email or by phone (301-785-5889).  One thing’s for certain in real estate – the housing market that matters most is the one right outside your door!