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HOT MESS -Northern Virginia Housing Market?

Real Estate Agent with Samson Properties VA0225077251

Every week Ritu Desai with Samson Properties releases weekly market activities that will impact home buyers, home sellers, landlords, and investors' decisions to buy a home or sell a home or rent a home in Fairfax, Loudoun, and Prince William counties. 

According to bright MLS Inventory -44.5% compared to last year this week last year. Even though the spring market is in full swing we are seeing a lack of seller's motivation to sell the home. It could be Over-housing or Where do I go reason. Lenders are seeing an uptick in mortgage applications. These are not primary home purchases but HELOC or 2nd loans with the equity the homeowners are sitting on. The sentiment is to update the home rather than venture into this tight inventory and uncertain market. This all leads to Home buyers house hunting don't fall for the headlines. A well-priced home in the Northern Virginia area is still attracting multiple offers without contingencies. The rental market continues to be soft with the rising inventory.

Do you have a real estate question regarding the DC Metro housing market? Let's talk 703-625-4949 or at www.RituDesai.com



Posted by

Associate Broker

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.