DC Real Estate Update: May 2010

Phew.  Tax Credit = Over.  Now what?  Looking at our Northern Virginia inventory graph, you’d think there was a flood of inventory at the end of April, with sellers trying to take advantage of the last minute rush of buyers, but as of today, there are just 5000 homes on the market in close-in Northern Virginia, a level we typically only see in the dead of winter.

But what will happen to the number of buyers?  Did we burn through our 2010 buyers all in the first quarter now that the credit is no more?  We’ll have to see in next month’s issue.  But things in Arlington bode well: it recently ranked on the list of “least financially stressed counties.”

Virginia was recently named #7 on the list of “Most Transient States”  Do you know someone moving to the area?  The Wethman Group has started a blog for those relocation, and in particular military moves.  Check it out (and forward to a friend!) at http://www.militarymovetovirginia.com
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In other news…
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As always, if we can be of assistance with your real estate needs, please don’t hesitate to contact us.