For the first time in a year, the inventory of homes on the market in DC rose above a two-monthly supply in September. In addition to increasing inventory, buyer demand may be dropping off ever so slightly. For virtually all of 2016, there has, on average, been more than one pending contract per active listing in the city. That ratio fell to 0.75 last month.
The September jump in housing supply may not be indicative of an upward trend. Last year, the supply rose well above two months in September, and buyer demand similarly dropped off. However, the jump in inventory was short-lived as supply dipped back down below two months for the next eleven months.
Here is one more thing to chew on: The benchmark of a balanced housing market is usually a six-month supply of homes on the market. The inventory of active listings for sale in the District has been below the six-month level since July 2009.
This article originally published at http://dc.urbanturf.com/articles/blog/why_dcs_autumn_housing_supply_bump_may_be_a_mirage/11828
Most Popular... This Week • Last 30 Days • Ever
The H Street Corridor once epitomized DC's development boom, but construction activit... read »
UrbanTurf is taking a look at what we think will be the three metrics that will deter... read »
A look at the close-in cities in Maryland and Virginia with the lowest supply of home... read »
Built in 1840, the home has been home to members of Congress and presidential cabinet... read »
The gorgeous boutique condominium is ideally located on the border of Columbia Height... read »
UrbanTurf is re-running its primer on property taxes which outlines a few things that... read »
UrbanTurf has compiled virtual looks at large new developments around the DC region.... read »
The Shaw pipeline is starting the year off hot.... read »
The upzoning would mandate additional Inclusionary Zoning units for developments alon... read »
Is U Street regaining steam as the development center of gravity in the neighborhood?... read »
With this weekend's DC houseboat tour a day away, UrbanTurf thought it only fitting t... read »
President Obama travels to Denver this morning to sign the stimulus bill that has bee... read »
In this week's installment of Ask An Agent, a reader wonders if there is a rule for h... read »
As The Wharf prepares to begin construction, DC's houseboat community heads to its ne... read »
In this week's installment of Ask An Agent, a reader asks a fairly common question th... 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. Visit guides.urbanturf.com or start browsing below!
Intro guides for first-time home buyers
Awesome and unusual real estate from across the DC Metro