Weekly Northern Virginia Real Estate Market Update - March 31

By
Real Estate Agent with Samson Properties VA0225077251

5% interest rate -- Has that impacted the DMV housing market? Let's answer that question in this week's Real Estate Market Update!

Well I did see a teeny tiny pullback this past week in the housing market. There were Realtors I had spoken with had listings on the market. They didn't end up getting getting multiple offers as they were expecting. So what's going on in the market?

Just a quick disclaimer: what I'm about to say is limited to the spring breaks across the DC Metro region. We are seeing different schools, different spring break in next couple of weeks. Our buyers are just taking a break with the beautiful weather. So I don't think it's directly impacting because of the 5% interest rate.

If you're a home buyer, this may be an opportunity market rather than sitting on the fence. While we are still short on inventory, there aren't much offers coming in so it's a good time to submit that offer!

And with regards to my sellers, I've been talking about you guys please since January. I've been telling to be on the market now than later because with the Feds already talking about raising the interest rate it is going to impact by the end of the year market.

Do you have any further questions with the market's current situation? Let's talk about that! Call me at 703-625-4949 or visit my website at www.RituDesai.com for more!

Posted by

 
                             
Associate Broker
MRP, ABR, ePRO

NVAR, Life Time Top Producer
NVAR,Multiple Million Dollar Sales Club Member
Samson Properties
Cell - 703-625-4949
Email - info@eNOVAHomes.com
Web: www.eNOVAHOMES.com
 
Residential real estate agent serving Northern Virginia in Fairfax & Loudoun county over a decade and almost $100+M in sales volume experience. 


 

Comments (1)

Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

Northern Virginia home buyers and sellers are sure to value your real estate market report, Ritu.

Mar 31, 2022 07:46 PM
Ritu Desai 703-625-4949

Thanks, Myrl!

Apr 01, 2022 12:51 PM