Housing Recovery Finally Hitting Most Markets Across the Nation

Watch on your mobile device >>


After what seems an eternity, many markets are finally reporting strong improvements across the board in their local real estate markets. In a recent article, CNN Money reported an increase in home values for the first time in five years. This is promising news for much of the nation though our own vicinity has not been as hard hit by the recession and housing crisis of 2007 as it has everywhere else. 

This recent Washington Post article, along with many other reliable sources, cite the DC area as being one of the last in the country to get hit by the recession and the first to recover. With nearly 50,000 jobs created just last year and a continuously strong job market, we have been fortunate to avoid the crippling effects of high unemployment. Those same national unemployment numbers had a derailing impact on many markets.

The sales numbers in our area of DC, Maryland and Virginia show promising increases with a 10% jump in sales volume and an unprecedented 5% increase in prices this year compared to last. Inventory continues to dwindle, leading to multiple offer situations and even bidding wars for especially desirable properties.

We spend a good amount of time following national, regional and local trends. If you would like to access some of the research that our team collects so you can get a snapshot of the marketplace, we invite you to contact us at either info@enggarcia.com or by calling 202.290.1313. We look forward to hearing from you!