Despite rising home prices and interest rates, it still might be the perfect time for you to buy a home, writes Nydia Han and Heather Gruber for 6ABC.
The Philadelphia housing market has the third highest growth rate in the country, according to a new report. Prices in the Philadelphia metro market are up almost six percent year to year in June.
The hottest neighborhoods to buy a home right now include downtown Wilmington, Delaware; Morgan Village in Camden, New Jersey; and downtown Pottstown.
Home values in downtown Pottstown have seen some significant growth over the past four years, the report found.
“But pending sales are down by 25 percent, solds are down by 25 percent and active listings are down by 15 percent across the metro market,” said Maria Quattrone, CEO of Quattrone and Associates at RE/Max@Home.
“That means that for some time, there’s probably going to not be enough inventory.”
Her advice for home buyers, especially those buying their first home and the empty nesters, is to crunch the numbers and consider buying now.
Find out more about the hottest neighborhoods at 6ABC.
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Take a drive through downtown Pottstown.
