Washington DC Real Estate Market Report-January 2012
Washington DC Real Estate Market Report-January 2012. First one of the year. Many of you have been wondering how was the Real Estate Market in Washington DC last month? Well if it was like the unexpected weather,chances are we are in for some good news.
Sellers now have control: If you are a home buyer looking to buy,this is still a good time to "buy a home in Washington DC." But with now as a DC Home buyer,you don't have that luxury of having many available inventory to choose from. The power has now SHIFTED to the Seller's. There are 3.2 months supply of DC Houses for sale. Many factors helped buffer the DC Housing Recovery.
- Higher gas prices.
- European Financial Rollercoaster
- Inability of Congress and the Administration to negotiate agreements on National Debt and Budgets.
In 2012,All Economic measures are pointed in a positive direction and more strongly so than a year ago.
- UNEMPLOYMENT IS DOWN.
- GDP (Gross Domestic Product) is up.
- Corporate Earnings are up.
- Consumer Confidence is on the rise.
All of these positive indicators set the state for continued recovery in the
Housing Market. Pending Sales(offer has been made and accepted)
increased 9.3% from January 2011 to a
level of 529. This is higher than December and bodes for the
years beginning and shows evidence of increasing consumer
confidence. Perhaps the biggest story in the Regional Housing
Market is declining Housing Inventory which is bringing Supply
and Demand picture into better balance.
Active January DC Listings were down 27.6% from a year ago.
RESULTS: Months supply of available housing is declining.
January rate which is 3.2 months is down -22.2% from
December 2011 and in the range of indicating a Seller's Market.
DC Spring Housing Market looks to be a very good one.
And if you are in the market to Buy a home in Washington DC CLICK HERE
Comments(4)