Peter Kutemeyer says the Maryland market has stabilized since the beginning of the downturn in late 2005 and early 2006.

He says the hardest hit areas have been the condo and co-op markets, due primarily to the fact they were greatly overbuilt.

The end result has been a conversion of many units into rentals, which in turn put some downward pressure on the rental market.

Kutemeyer says that though the market for single-family homes and town houses was less affected, inventory in those markets have increased and prices have subsequently dropped.

He expects these conditions to remain about the same, with perhaps a slight downward movement, and some signs of recovery later this year or early next year.

And, he says, given the strong Euro versus the Dollar, he expects to see more foreign investment in this area.

For more information on this area, contact Peter Kutemeyer at:
http://www.pkutemeyer.com.

Published: March 28, 2008

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