Home | Newsletter | Advertise
loading...

Housing Inventory Rises in August, But Not in DC

  • September 8th 2010

by Mark Wellborn

✉️ Want to forward this article? Click here.

Data out from ZipRealty shows that the inventory of homes on the market in metropolitan areas across the country increased at the end of August compared to the end of July. However in DC, inventory actually dropped 1.2 percent during that period.

While the increase in inventory nationally (0.4%) was notably less than a typical August increase of two percent, the current inventory will still take over a year to clear at the current sales pace, according to The Wall Street Journal:

The less-than-average gain in inventories is troubling, nonetheless, because demand has fallen sharply since the tax credit to spur sales expired earlier this year. At the current pace, it would take 12.5 months to clear the backlog of unsold homes, according to the National Association of Realtors.

Despite the fact that there was a dip in inventory in August, there were still 36,270 homes listed across the DC Metro area. Yet many buyers in DC proper are lamenting the lack of quality choices that have been available in recent months.

See other articles related to: home buying, housing inventory

This article originally published at https://dc.urbanturf.com/articles/blog/housing_inventory_rises_in_august_but_not_in_dc/2450.

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

Red Flags Revealed During a Home Inspection Top 5 Tax Breaks For Homeowners Tax Relief for DC Homeowners
Condo Fee Tutorial What is a Rent Back? 10 Ways To Tell If a Home Renovation is Well Done
Obtaining a Basic Business License For Your Rental What is an Adjustable Rate Mortgage? The Splitting the Rent Formula
How Much Cash Do You Need to Buy a House? Is This Condo Building Financially Healthy? Interest Rates and Mortgage Points
The Scoop on Mortgage Insurance

Unique Spaces

Awesome and unusual real estate from across the DC Metro

The Most Intriguing Loft in DC The R Street Firehouse DC’s One-Room House
Dupont Circle’s Old Frat House To Become Alley Home Best Transition From a Garage To a Home The Roundhouse
Tilden Gardens Restaurant-Turned-Home Hits Market Next Week Logan Circle’s Most Intriguing Garage Frank Lloyd Wright Goes Green in Kensington
Sears Bungalow Gets a Modern Makeover Old Town General Store Becomes Three-Level Home Making the Most of a Skinny House
A Studio 27 Renovation on Capitol Hill Once a Carriage House, Now a Home The Bank that Became a Home
From Pie to Hooch to Heroin to Home The Live-Aboards of Gangplank Marina A Treehouse with Rock Creek Park As A Backyard
Modern Tranquility in Sperryville Saddle Up For Stable Living Throwing a Curve at 550 Square Feet
A Modern Hilltop Retreat Tilden Street Restaurant Becomes Spacious Home Focus on Design: A Vastu Unit at 22 West
The DC Area’s First Net Zero Home A Yankee Goes Green DC’s First Carbon Neutral Home
Eco-Friendly Alley House Off H Street The Gym, The Stables and The Firehouse