Questions continue to come up about where home prices will head throughout the rest of this year, as well as where they may be going over the few years beyond. We’ve gathered current data from the industry’s most reliable sources to help answer these questions: The Home Price Expectation Survey – A survey of over 100 market analysts, real estate experts, and economists conducted by Pulsenomics each quarter. Mortgage Bankers Association (MBA) – As the leading advocate for the real estate finance industry, the Continue Reading
Click into the blog page for a short video highlighting the real estate market movement in various micro-markets around the area: Fairfax, Fairfax City, Falls Church, Alexandria, Arlington, and more. Each geographic area is slightly different and comparing the median sales price to the number of sales provides for a succinct indication of where buyers want to buy, and shows so clearly how prices are pushed upwards when supply is low.
Not a day goes by that I don’t discuss the impact of Amazon with someone. The good folks are Urban Turf recently reported the statistics that show what is going on, on the ground, in Arlington, VA: “The Amazon real estate effect in Northern Virginia now seems to be affecting home prices. The median home sales price in Arlington shot up 20 percent in January. While it is impossible to specifically draw a connection between this rise in prices and Continue Reading
This just in …. though I’ve been hearing many similar rumblings recently about a market slow-down and better balance between seller supply and buyer demand …. RISMEDIA, Tuesday, December 18, 2018— With the economy expected to slow in the upcoming year, the housing market—namely prices and sales—is set to stabilize, according to analysts at Fannie Mae. For 2019, Fannie Mae’s Economic and Strategic Research Group is anticipating an ease-off in home prices, which have run up unsustainably, by many measures, Continue Reading
The inventory of existing homes for sale in today’s market was recently reported to be at a 3.6-month supply according to the National Association of Realtors latest Existing Home Sales Report. Inventory is now 7.1% lower than this time last year, marking the 20th consecutive month of year-over-year drops. Historically, inventory must reach a 6-month supply for a normal market where home prices appreciate with inflation. Anything less than a 6-month supply is a sellers’ market, where the demand for Continue Reading
There are more single family homes for sale in Arlington VA today than there were back in March, which should be good news to home buyers out there. Inventory levels have increased significantly over the past few months (yes, real estate jargon makes it sound like you’re in a department store). You can see the trend for specific Arlington VA zip codes in my local neighborhood blogs: Arlington 22201, Arlington 22202, Arlington 22203, Arlington 22204, Arlington 22205, Arlington 22206, Arlington Continue Reading
I cannot believe how long it has been since I’ve written something on these virtual pages. Hopefully people are still reading … 🙁 The thing is, I really enjoy writing these posts. Silly, silly. The thing is, a real estate agent does have to sell something from time to time, not just write about selling something. I have been really busy. Let’s see if the stats show the same, or if I’m out in a world of my own. Look Continue Reading
You can click on the photo itself in order to really be able to read it, but I will tell you that over the past year, real estate in the Arlington VA zipcode of 22201 has shown the highest appreciation — 12.4%. The “golden zipcode” of 22207 in Arlington VA has witnessed only 3.5% appreciation (still very good, low only in comparison to other zips). Interestingly, the zipcode that defines Rosslyn in Arlington, VA saw significant depreciation in sales price Continue Reading
There is nothing to buy! Check out inventory levels in all nine Arlington VA zip codes right now: 22201, 22202, 22203, 22204, 22205, 22206, 22207, 22209, 22213. That would explain why two properties in Lyon Village just flew off the market and went under contract faster than you can say Speedy Gonzales!
In a Wall Street Journal article last week, 10 Reasons To Buy a Home, Brett Arends reported: Sure, maybe there’s more pain to come in the housing market. But when Time magazine starts running covers that declare “Owning a home may no longer make economic sense,” it’s time to say: Enough is enough. He then listed 10 reasons to buy a home today: You can get a good deal. Mortgages are cheap. You can save on taxes. It will be Continue Reading