Throughout the D.C. region, low inventory is helping sustain demand for sellers, but buyers may be tapping the breaks a bit as we head into the summer months. With interest rates at about 5.5 percent nationally in the first few weeks of June, new mortgage loan applications dropped to their lowest point in 22 years. “The purchase market has suffered from persistently low … [Read more...] about Interest, Inflation Shifting Buying Habits Buyers cautious on new loans, but seller’s market holds steady.
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Home Sellers: ‘Show Me the Money’ Cash is king as buyers compete for low inventory throughout the D.C. region.
And just like that, we’re one-third of the way through 2022. Year-to-date sales numbers remain strong throughout the D.C. region and continue to favor sellers. For buyers, cash remains king, as low inventory and stiff competition make for challenging face-offs with many homes receiving multiple offers and prices often climbing above asking price. From January through April, … [Read more...] about Home Sellers: ‘Show Me the Money’ Cash is king as buyers compete for low inventory throughout the D.C. region.
Buyer Competition Defines January Market How might rising inflation and higher prices affect the region’s real estate future?
Competition among D.C.-area home buyers remained fierce in January, as the Federal Reserve contemplated interest rate hikes in the coming months. In mid-February, James Bullard, Federal Reserve Bank of St. Louis president, called again for a short-term interest rate hike of 1 percent by July, while other Fed representatives weren’t quite as aggressive. Fueling these … [Read more...] about Buyer Competition Defines January Market How might rising inflation and higher prices affect the region’s real estate future?
Are We at the Top of the D.C. Real Estate Market? April numbers have sellers on top and buyers chomping at the bit.
No one can tell you with certainty when we're at the top of the market. The best we can do is follow trends as closely as possible and then look at certain indicators on the horizon that might tip us off to where we're going next. But if D.C. region home sellers ever wanted a period of time when prices were up, inventory low, and buyers stumbling over themselves to beat out the … [Read more...] about Are We at the Top of the D.C. Real Estate Market? April numbers have sellers on top and buyers chomping at the bit.
Red Hot D.C. Real Estate Market Explodes into Spring Make sure you have the right strategy to compete!
We’ve discussed the competitiveness of the local real estate market at length in recent months, and as we enter the typically busy days of spring and summer, there’s no sign of it letting up at all. Anecdotally, it’s a reality we’ve witnessed first-hand. A recent Old Town seller listed a home with us for $1,039,900. We received the first offer within about eight hours of … [Read more...] about Red Hot D.C. Real Estate Market Explodes into Spring Make sure you have the right strategy to compete!