Local Market Report
(there is no national real estate market)
The months supply of homes on the market increased to 1.3 from last month's 1.1. Northern Virginia retains the lead with 1.0 months supply; then Loudoun County at 1.2; followed by Washington DC at 1.4; and Montgomery County at 1.6. This is the strongest market since 2013, with most jurisdictions in hot market territory. ZIP codes 22202 and neighboring 22301 (National Landing?) now have a total of 28 properties for sale, up from 20 last month. Home buyers are likely to have a slightly easier (but not easy) time for the next 3 or 4 months. Mortgage interest rates generally follow the 10-year Treasury Note which has taken about a half-percent dip of recently. Lower mortgage rates help buyers, sellers, and agents.
Amazon's second Headquarters hiring has begun, albeit slowly. To welcome new-hires to Crystal City, I have updated my e-book Buying a Home in Northern Virginia, priced at $1 for download from Amazon. A direct link is here.
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The report above is prepared monthly from David's independent research for his clients. It does not contain important data for macro-economists, is not tailored for a TV audience, includes no national data, and is not prepared by the computer weenies at the MLS. Click this link to learn how this report is prepared and why it is the best available anywhere!
1. The market index represents the months supply of resale homes and measures the ratio of home buyers to home sellers. Below 1.5 is a hot sellers' market; 1.5 to 3.0 is a normal sellers' market; 3.0 to 5.0 is a neutral market; above 5.0 is a buyers' market.
2. Northern Virginia: Alexandria, Arlington County, and Fairfax County (including Fairfax City and Falls Church City).
3. Results are not seasonally adjusted.
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Your Friend in Real Estate, LLC
Arlington, Virginia, USA
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