Local Real Estate News
WHAT’S AHEAD FOR 2016? 2015 was better than 2014 across the entire metro DC area for the two most important metrics – total settlements and new contract activity – but most other indicators were a little worse. With the exception of Washington, D.C. itself, homes took a little longer to sell, price appreciation was moderate at best and overall supply rose as more new listings came on the market.
What’s ahead for 2016? We think the market is headed toward something we haven’t seen in almost 15 years: normalcy. During the past decade and a half we’ve seen some wild swings in real estate, from the pause after the horrors of Sept. 11, to the rapid run up in home prices 10 years ago with teaser rate mortgages and people buying homes who could not possible afford them, to the crash that followed.