What's Hot: The 4 Projects in the Works Near DC's Starburst Intersection | A 153-Room Aloft Hotel Pitched For Mt. Vernon Triangle
WSJ: April Drop in Listings for Homes
The Wall Street Journal is reporting that the inventory of homes on the market in a number of U.S. cities fell in April. In 29 metropolitan areas (including DC), the “for sale” housing inventory dropped 3.6 percent since March, according to the paper.
In DC, the number of homes for sale dropped two percent in the last month. While the decline in inventory can be seen as a sign that the market is close to bottoming out, the possibility that many foreclosed properties will hit the market in the coming months is dampening expectations.
From the WSJ:
“Tom Lawler, a housing economist based in Leesburg, Va., says the decline in listings ‘suggests that the bottom in home prices is much closer than many pundits believe.’ He also notes that housing construction has plunged. But he cautions that it’s unclear how many foreclosed homes will go on the market in the months ahead.”
This article originally published at https://dc.urbanturf.com/articles/blog/wsj_april_drop_in_listings_for_homes/902.
Most Popular... This Week • Last 30 Days • Ever
In this article, UrbanTurf looks at the estimated annual maintenance costs associated... read »
Another concept has been unveiled for one of DC's most contentious development sites,... read »
Renter demand has continued to push Class A apartment rents in the DC region up this ... read »
The big news in the development pipeline east of DC's H Street Corridor is the resur... read »
A new hotel has been pitched for a development site in Mount Vernon Triangle that has... 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