There must be a reason you are in this area and to move to any other location just because houses are cheap there makes no sense. Will you find similar job in the other area, will you be okay with the community in that area, what other factors will affect your decision; you gotta weigh them all in.

I agree with Eutab4. Home prices and interest rates are already up compared to last year or spring of this year. It will cool down after the summer but the rates might not get any better. Prices in a good neighborhood will never go down in DMV area (rule no 2 in real estate: Never say never) until you decide to buy. The market might be crazy right now with summer heat and too many bids and it certainly is seller's market in DMV area.

Good luck with your purchase.