Harvard Housing Study

Realtor mag had this to say about the report:

“Harvard: Slowdown is merely a breather.

Cooling homes sales nationwide will not last long because continuing strong household growth will fuel more housing demand, Harvard University’s Joint Center for Housing Studies says. Over the next ten years, there will be at least 2 million more new households than were formed over the last decade. “on the strength of growth alone housing production should set records,” the report says. Don’t expect prices to plunge as a result of the current slowdown, either. Markets are seeing neither big employment drops nor overbuilding in housing supply – two conditions that precipitated price falls in the past.” Click here for the report

Those conditions are certainly true for our area, we have more and more jobs coming, especially in St. Mary’s and Charles county due to growth at both PAX, and Indian Head. Furthermore everything suggests that this “slowdown” is simply the return to a balanced, normal market.