Stability over volatility As the new year begins, the residential real estate market in Northwest Washington, D.C. is settling into a more balanced and measured phase. After several years shaped by sharp rate increases and limited inventory, conditions are gradually improving. Buyers and sellers alike are approaching decisions with greater clarity, and the market is … Continue reading Market Outlook for the New Year: Northwest Washington, D.C.
Mortgage Rates
Your 2025 Mid-Year Real Estate Update
We’re more than halfway through 2025. I would like to share the highlights of what’s happening in the real estate market. Modest Home Price Growth We’re continuing to see home prices rising but at slower (and lower) rates than we’ve had the past few years. Nationwide, median home prices increased just over 1 percent compared … Continue reading Your 2025 Mid-Year Real Estate Update
Should You Wait for Mortgage Rates To Come Down Before You Move? Maybe Not.
If you’ve got a move on your mind, you may be wondering whether you should wait to sell until mortgage rates come down before you spring into action. Here’s some information that could help answer that question for you. In the housing market, there’s a longstanding relationship between mortgage rates and buyer demand. Typically, the … Continue reading Should You Wait for Mortgage Rates To Come Down Before You Move? Maybe Not.
Two Factors That Impact Mortgage Rates
When the Fed meets, experts in the industry will be keeping a close watch to see what they decide and what impact it’ll have on the economy. If you’re looking to buy a home, you’ve probably been paying close attention to mortgage rates. Over the last couple of years, they hit record lows, rose dramatically, … Continue reading Two Factors That Impact Mortgage Rates
The Real Estate Market for 2024
If you’re thinking about buying or selling a home in 2024, you may be wondering what’s to come in the real estate market ahead. After a few robust years, 2023 brought the housing market to more normal (pre-Covid) levels, which we expect to continue in 2024. Here are a few more of the trends that … Continue reading The Real Estate Market for 2024
Mortgage Interest Rates Update: What Buyers’ & Sellers’ Should Know About the Spring Market
"Low inventory issues are keeping prices from dropping off. How much further home prices dip in 2023 will likely depend on where mortgage rates go. Experts point out that today’s homeowners have a more secure footing than those coming out of the 2008 financial crisis. A higher number of borrowers have positive equity in their homes." … Continue reading Mortgage Interest Rates Update: What Buyers’ & Sellers’ Should Know About the Spring Market
Two Big Issues Facing the Housing Market Right Now
The biggest challenge the housing market’s facing is how few homes there are for sale. Mark Fleming, Chief Economist at First American, explains the root causes of today’s low supply: “Two dynamics are keeping existing-home inventory historically low – rate-locked existing homeowners and the fear of not finding something to buy.” Let’s break down these … Continue reading Two Big Issues Facing the Housing Market Right Now
Our Real Estate Market Predictions for 2023
Everything in the economy is cyclical and real estate is no exception. After a few robust years, 2022 brought the housing market to more normal (pre-Covid) levels, which we expect to continue in 2023. Here are a few more of the trends that my team at Long & Foster Real Estate and I expect to … Continue reading Our Real Estate Market Predictions for 2023
Guidance for Buyers: Marry the House and Date Your Rate
This last hike by the Fed, along with their language about future increases and numbers in the UK have led to quite the spike in rates. We were talking about rates in the 5’s and just into the 6’s, but very quickly we’ve escalated into needing to talk about the 7’s. We’ve been here before, … Continue reading Guidance for Buyers: Marry the House and Date Your Rate
May Residential Real Estate Market Update
The housing market is influenced by the state of the economy. With so many economic developments recently, you may be wondering about the impact on the housing market. To keep you informed, we looked at a few factors that are currently affecting the real estate market. Rising Mortgage Rates The recent increase in mortgage interest … Continue reading May Residential Real Estate Market Update
Now is a Particularly Great Time to Sell a Home
While real estate is hyper-local and each area experiences its own ebbs and flows, a number of trends still affect the market as a whole. Throughout 2021, inventory challenges and low mortgage rates remained a common theme. With the arrival of winter and recent news of upward pressure on interest rates expected throughout 2022, if … Continue reading Now is a Particularly Great Time to Sell a Home
The Facts Many Headlines Overlook
Context is Important. There are a lot of questions right now regarding the real estate market as we head into 2022. The forbearance program is coming to an end and mortgage rates are beginning to rise. With all of this uncertainty, anyone with a megaphone – from the mainstream media to a lone blogger – … Continue reading The Facts Many Headlines Overlook
2021 Housing Market Predictions And Forecasts
Where We Are Heading After a whirlwind of a year in 2020, the housing market looks like a minefield of complications. Thanks to COVID-19 and its impact on the U.S., the right decisions for a potential home buyer may be completely different from what they were in 2019. Some have to permanently work from home … Continue reading 2021 Housing Market Predictions And Forecasts
Mid-Summer Update
As always, your safety and that of your family is of the utmost importance and is our priority. We're committed to helping you with all the safety and health measures we can apply to your home visits, inspections, showings, purchases and sales. July was our busiest month so far and surpassed May 2019 buyer and … Continue reading Mid-Summer Update
What Effect Do World Events Have on the U.S. Housing Market?
There’s quite a bit going on in the world right now—impeachment hearings, Brexit, tensions with Iran, trade issues with China and, more recently, the coronavirus. If you’re thinking of buying or selling a home this year, you may be wondering what effect, if any, these domestic and global events can have on real estate. Here … Continue reading What Effect Do World Events Have on the U.S. Housing Market?
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