Maryland whiffed as far as being included in the “Markets to Watch” segment of the annual Emerging Trends in Real Estate Market report.
The report – produced by Pricewaterhouse Coopers and the Urban Land Institute – listed 20 markets it expects to perform well in 2015. But neither Baltimore or Washington D.C. made the cut this year. Washington D.C. just missed after being ranked 25th (the Maryland suburbs on their own are ranked 51st) and Baltimore came in at 31st on the list.
This year, interviewees and survey participants reflected a desire to take on a measured amount of new risk in search of higher yields. Two strategies mentioned repeatedly during interviews focused on moving to more opportunistic-style investments in the major markets or in markets close to a major metropolitan area (think New York City boroughs), or looking for the best assets in markets outside of the core major markets. This year’s market rankings reflect the attractiveness of markets for both of these strategies.
Although Baltimore is considered to have a better outlook in overall real estate prospects. Charm City was ranked as having a “generally good outlook” while Washington D.C. was only given a rank of “fair.”