The anecdotal evidence from my brokerage firm and the data continue to tell the story of a still robust Northern Virginia market but one that is moderating. Inventory this week is up to 3,824 homes. Slightly better than 2021 which was at 3,571. But home sales themselves have taken a DEEP dive year [...]
After the previous post's long analytical missive I am going to focus largely on anecdotal evidence we are seeing out there to let you know what is going on in the real estate market. As inventory continues to increase and sales moderate a tad we are up to a 1.4 months supply of [...]
This week we are graduating from ECON 201 to ECON 301. Welcome to the new class! I typically go over inventory levels and strong data analysis and interpretation to benefit my real estate clients. We'll do that as well this week but we're going to dive into some major economic headlines, as well [...]
July Market Update & Newsletter Welcome to summer - and all the fun associated with it! What does summer mean to you? Trips to the beach? Cookouts with family and friends? A trip to the local winery or micro-brewery? Baseball games? How about amusement parks? I don't know about you but when I'm at an amusement park, [...]
The market has absolutely shifted, but don't expect a sea of change, at least here in NOVA. The last 6 weeks or so have brought a perfect storm of a stock market crash, a precipitous rise in interest rates, and a bunch of buyers tired of writing great contracts and being told it [...]