The Types of Homes That Sold This Spring Will Surprise You
✉️ Want to forward this article? Click here.
![cap.jpg](https://assets.urbanturf.com/dc/images/blog/2023/06/cap.jpg)
It appears that many second home owners and investors are deciding it is time to sell.
Nearly one-third of home sales in the Mid-Atlantic in May were not owner-occupied, according to a new survey of realtors from Bright MLS out this week.
"Unlike a typical spring homebuying season where sellers are also looking to buy a home, those looking to either move up into a bigger home or downsize made up a relatively small share of the housing market," the survey found. Only 11% of sellers were looking to upgrade from their current home, and 12% of sellers were looking to downsize. In comparison, nearly 33% of sales were rental, investment properties or second homes.
story continues below
loading...story continues above
“With inventory so low and many homeowners reluctant to give up their extremely low mortgage rates, everyone is wondering where new listings are going to come from. We’re starting to see more sellers who are listing second homes and investment properties,” said Dr. Lisa Sturtevant, Bright MLS Chief Economist. “Some of these homes were purchased during the pandemic when people were working remotely. As more workers are being called back to the office, fewer people are able to take advantage of those vacation getaways. The short-term rental market has also slowed down, which is prompting some sellers to offload homes they had purchased for that market.”
The home in the above image is currently for sale at 623 6th Street NE.
This article originally published at https://dc.urbanturf.com/articles/blog/the_types_of_home_that_sold_this_spring_will_surprise_you/21161.
Most Popular... This Week • Last 30 Days • Ever
![Buying with Friends: What You Should Know](https://assets.urbanturf.com/dc/images/blog/2010/05/home_value.jpg)
Here are some precautions to take before buying real estate with a buddy.... read »
![$10 Million McLean Home Of Former Nationals Star Stephen Strasburg Finds a Buyer](https://assets.urbanturf.com/dc/images/blog/2024/09/resized/VAFX2180246_45_0_image_560x420.jpg)
The six-bedroom home listed for just south of $10 million back in June went under con... read »
![16-Story, 325-Unit Building Pitched For Arlington's Wilson Boulevard](https://assets.urbanturf.com/dc/images/blog/2024/09/resized/2500-wilson-1_image_560x420.jpg)
The new project will take the place of an obsolete office building in Courthouse.... read »
![Mayor Bowser Announces First Office-To-Residential Projects To Receive Tax Abatements](https://assets.urbanturf.com/dc/images/blog/2024/09/resized/1625-mass-1_image_560x420.jpg)
The three office-to-residential conversion projects have been conditionally awarded t... read »
![500 Apartments, Live/Work Units And A Park: The New Plans Coming To St. Elizabeths](https://assets.urbanturf.com/dc/images/blog/2024/09/resized/parcel-6-park_image_560x420.jpg)
The plans for one of the final parcels at DC's St. Elizabeth's East campus are beginn... read »
- Buying with Friends: What You Should Know
- $10 Million McLean Home Of Former Nationals Star Stephen Strasburg Finds a Buyer
- 16-Story, 325-Unit Building Pitched For Arlington's Wilson Boulevard
- Mayor Bowser Announces First Office-To-Residential Projects To Receive Tax Abatements
- 500 Apartments, Live/Work Units And A Park: The New Plans Coming To St. Elizabeths
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