Demand Surpassing Supply in DC Area Home Market
A report from research firm Delta Associates and Metropolitan Regional Information Systems Inc. shows that the inventory of residential properties on the market in DC fell below 6 months worth in June, according to the Washington Post’s Local Address blog. Blog author Elizabeth Razzi notes that the drop in inventory (now at 5.1 months’ worth) is important as a five-month supply “takes us out of a buyer’s market and toward one that favors sellers.”
While this news is good for the market, it is not time to break out the champagne just yet:
“Before you get too excited, keep in mind that prices in the April-June quarter were still 13.2 percent below what they were last year.”
The report also stated that the DC area should start to see price gains later this year or in early 2010. It will take 9-12 months longer for those price gains to hit the outer counties.
See other articles related to: dclofts
This article originally published at https://dc.urbanturf.com/articles/blog/demand_surpassing_supply_in_dc_area_home_market/1207.
Most Popular... This Week • Last 30 Days • Ever
Roadside Development filed a sketch plan with Montgomery County this month for the 30... read »
While just a few months into the year, the prices per square foot around DC are start... read »
The Matthew is located on 9th Street, overlooking the iconic Naylor Court and neighbo... read »
Dan Snyder donates house to charity; DC records priciest building sale since 2022; an... read »
This week's Best New Listings include an award-winning craftsman, a condo in a former... read »
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