DC Experiencing Lowest For-Sale Inventory Since 2005
The DC area finished 2011 with the lowest level of for-sale housing inventory since August 2005. RealEstate Business Intelligence (RBI) reported this morning that there were 10,684 active listings in the region at the end of last year, a 22.5 percent drop from 12 months earlier. The report predicted that the low inventory would lead to upward pressure on home prices in 2012.
Courtesy of RealEstate Business Intelligence
While there may be less to choose from out there than in years past, an optimistic detail from the report that caught our attention was the significant drop in foreclosures hitting the market.
From the report:
Only 1 in 20 (5.6%) active listings are under foreclosure, a significant decrease from the 11.2% foreclosed market share in December 2010. The 327 new foreclosure listings entering the market in December was 58.5% lower than the same period last year.
The area that RBI analyzes includes DC, Montgomery County, Prince George’s County, Alexandria City, Arlington County, Fairfax County, Fairfax City, and Falls Church City.
See other articles related to: dclofts, home prices, housing inventory, mris, realestate business intelligence
This article originally published at https://dc.urbanturf.com/articles/blog/december_housing_market_report_lowest_inventory_in_years/4893.
Most Popular... This Week • Last 30 Days • Ever
Roadside Development filed a sketch plan with Montgomery County this month for the 30... read »
The Matthew is located on 9th Street, overlooking the iconic Naylor Court and neighbo... read »
Construction continues humming along on several developments on the uppermost stretch... read »
Today, we take a closer look at home insurance.... read »
Unlike other new residential developments in the city, all of the apartments will be ... read »
- A First Look At The 525-Unit Development That Will Incorporate Silver Spring's Tastee Diner
- Nine Stylish Condominiums Debut in Shaw's Iconic Naylor Court
- The 1,600 Units In The Walter Reed/Takoma Development Pipeline
- A Look at What is Covered By Home Insurance
- 8-Unit Project + Restaurant Proposed Along Georgetown Canal
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro