DC Real Estate Update: May 2010
May 31, 2010 by Katie Wethman · Leave a Comment
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…
- Recovery? Hedge fund manager predicts 3-5% increase in home prices thanks to high affordability. And existing sales were up 7.6% in April. But really, who knows…this survey ranged from an 18% decline to a 37% increase between now and 2014.
- Builders are back: New home construction skyrockets.
- Want to be on TV? (I do, I do! Have your friends who are selling call me!) HGTV casting in DC area for new show: “My First Sale” for first time home sellers.
- Congrats to all of the DC metro area for being the Fittest U.S. Area
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As always, if we can be of assistance with your real estate needs, please don’t hesitate to contact us.
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