DC Real Estate Market Update: October 2011

The Fall market continues to surprise—it’s been really, really busy,  fueled by another batch of record low interest rates. (Need a good lender to re-fi? Ask me!)

Our market continues to outperform the nation. Builder magazine named DC #13 on its list of Healthiest Housing Markets.  It notes that while builders noted a step back in prices, “Moody’s expects permit activity to pick up substantially in 2012, partly due to a strong jobs market. With an unemployment rate well below the national average, D.C. is expected to add 40,000 jobs this year. The region’s population continues to grow at about 1.2% annually.”

And  it was doubly good news for Arlington, which also made Bloomberg Business Week’s List of 50 Best Cities, coming in at number 2 (behind Raleigh, NC).

On another note, homeowners, don’t forget your Fall home maintenance. This is the perfect time to drain hose bibs, seal drafty windows and doors, check your chimney for loose or missing mortar, and don’t forget to keep those gutters clear of falling leaves.

In this month’s trivia section, ever wonder why it’s called “real estate”? After all, of course it’s “real,” and it’s only sometimes part of an “estate.” Get the Straight Dope here.

If you know someone looking to move, please don’t hesitate to contact us. And if you’re thinking of selling—contact us for a no obligation market analysis of your home and review of statistics in your local neighborhood.

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