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The Conference Board's Little Easter Egg

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Real Estate Agent with Compass | 1313 14th St NW DC 20005 Licensed in DC & VA

What now??!

I was reading the Conference Board's latest update as I wrote my June DC real estate market report, my spirits sinking lower with each paragraph, until....

June 2023 DC Real Estate Market Update

The end of May is usually the time when DC real estate prices are jumping with each sale, bidding wars are the norm, and market activity is at its frenzied annual peak,. But this year, the outlook for late spring is about as sunny as yesterday’s weather.

Last week, mortgage interest rates rose to near 7% again, slamming the door shut on home purchases for many buyers. Potential home sellers are aware that prices are softer than usual, even falling for some neighborhoods and home types, so they're holding back until the market improves, contributing to lower inventory vexing willing and able buyers, yes, but also providing a good measure of price stability as a by-product.

Where are we now, and where are we going? Read the full post at realestateinthedistrict.com

Get caught up on the market ahead of the June 2023 FOMC meeting

Posted by

Susan Isaacs, Realtor

The Isaacs Team LLC

Partnering With DOMO

Compass

1313 14th Street NW DC 20005

Find us at:

realestateinthedistrict.com

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