The Housing Market Wakes Up
✉️ Want to forward this article? Click here.
Our recent heat wave and budding flora don’t just serve as reminders of the imminent Cherry Blossom Festival: our housing market is also about to wake up from its winter hibernation.
Readers know that the housing market ramps up in the spring. If you’re interested in digging deeper into the patterns, Trulia Trends (previously known as Trulia Insights) just published an extensive seasonal analysis.
Jed Kolko, Trulia’s Chief Economist, analyzed five measures — search activity, asking prices, new construction starts, existing home sales, and housing inventory — using data from Trulia, the Census, the National Association of Realtors, and the Department of Numbers. Check out this awesome chart:
Courtesy of Trulia Trends
From Trulia Trends:
What do these patterns tell us? Homebuyers are a little ahead of sellers. Asking prices peak at the start of the season, so demand appears to rise ahead of supply. As supply catches up, prices ease back down and sales peak. After that, inventories build up a bit further through the summer.
In the District, Kolko tells UrbanTurf, our inventory peaks in June and July, following the national seasonal pattern. Our asking price pattern varies slightly, with a later peak and a dip in August, a month of rest (and extreme humidity) for most of the city.
Harsh weather, unsurprisingly, affects the buying season. With our mild winter and early spring, we’ve heard from local real estate agents that DC’s housing market got busy a little earlier than usual this year.
See other articles related to: housing market trends, trulia insights, trulia trends
This article originally published at https://dc.urbanturf.com/articles/blog/the_housing_market_wakes_up/5297.
Most Popular... This Week • Last 30 Days • Ever
Find your perfect home in Alexandria’s newest luxury condominiums.... read »
Buffett called the five-bedroom listing home when his father, Howard Buffett, was ser... read »
Monument Realty has filed updated plans with Arlington County to redevelop the former... read »
What Republican control could mean for DC; the Post wants people back in the office; ... read »
A single home has come up for sale at Beale Square: an acclaimed, carriage-style town... read »
- A First Look at the The Whitley -- High-End Living in the Heart of Old Town Alexandria
- The Oracle of Spring Valley: Warren Buffett's Childhood Home in DC Hits the Market
- 142-Unit Development At Inn of Rosslyn Site Moves Forward
- Friday's Must Reads
- A Uniquely Private, Carriage-Style Townhome Hits the Market in Bloomingdale
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