Buying power increases in Washington DC housing market

McEnearney Associates Realtors, a Washington area real estate brokerage, has released its regional housing market watch for September and October.


Buying power in the Washington region over the past six years (McEnearney Associates Realtors)

In August 2006, it would have taken a monthly principal and interest payment of $2,509 to purchase a median priced home in the area. Because of today’s low mortgage rates, the monthly payment for a median priced home has fallen to $1,993, a nearly 21 percent drop.

 

Kathy Orton is a reporter and Web editor for the Real Estate section. She covers the Washington metropolitan area housing market.

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