WHAT'S THE STATUS OF THE HOME MARKET?
Fall market is bringing fresh property inventory to Washington DC, where the trends of Summer will be tested against The Fed’s continuing increases to the cost of borrowing as they combat inflation. Higher fixed mortgage interest rates (~6%) have led to buyer deliberation and slightly longer days on market compared to this time last year. In other words, the frenzied market of multiple offers and crazy escalations has calmed. While other parts of the country are shifting to a Buyer's Market, here in Washington DC the steady buyer demand and limited home inventory prevents a complete shift from a seller to a buyer's market. From the Washingtonian: "Our region continues to have job opportunities and a limited supply of homes, which will keep values steady."
WHAT THIS MEANS FOR BUYERS & SELLERS [click to read more]
Thinking about selling? Talk to us about timing and your goals.
Curious about buying in this market? Talk to our Buyer Agents.
[Pictured above, our current listing at 403 11th St NE - explore inside here!]
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