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How’s the Market? Nov 2022

Welcome back to my monthly blog “How’s the Market?” This is our Nov 2022 blog post which uses Oct 2022 data. First let’s start with a look at where we are compared to where we were in 2019, 2020, and 2021. Inventory One of the top items that we are all watching — Inventory. DC… Continue reading How’s the Market? Nov 2022

This time is different?

Let’s go back in time. In 2008, people were worried about losing their home in a foreclosure. A lot of homes hit the market, but there were not enough people to purchase them, and prices fell. 2008 is different. The housing bubble was a big factor in the actual recession itself. That is not the… Continue reading This time is different?

How’s the market? Oct 2022

How’s the Market? Welcome back to my monthly series “How’s the market?” where we talk about the current state of the market in the DC metro area. These are the September 2022 stats. Let’s check in on interest rates In June we were seeing rates around 6%. Since then the Federal fund rate has gone… Continue reading How’s the market? Oct 2022

Hello Fall Market!

Welcome back to this September edition of my “How’s the Market?” series. This data is the Aug 2022 data. The Fall season is officially here! What are we seeing?  There is a big cooling from this time last year, but that was a rare market. We are still doing better than Aug 2019. Inventory There… Continue reading Hello Fall Market!

How’s the Market? Is inventory rising? Are prices decreasing?

Welcome back for your July Market Update (Data from June 2022). Market Trends Home sales are slowing. The number of pending contracts is down 21% compared to last year. This is the largest decline since the spring of 2020 (original covid slowdown). Inventory is increasing in some submarkets, but still decreasing in other markets. This… Continue reading How’s the Market? Is inventory rising? Are prices decreasing?

Midway through 2022 – How’s the Market, June 2022

Mid-way through 2022 – How’s the Market? June 2022 An quick overview In the last year in Washington DC, inventory has increased by 7%, the median list price is up 9%, the median sold price is down 6%, and the sold volume is down 9%. In Montgomery County, inventory is down 9%, median list price… Continue reading Midway through 2022 – How’s the Market, June 2022

My Network Just Got a Lot Bigger!

I am enjoying my first month at TTR SIR. We recently reviewed their last year results. In 2021, Sotheby’s International Realty reached a historic USD$204 billion in global sales volume and now have more than 1,000 offices in 79 countries. What does this mean to you? My network just got a lot bigger!! I’m happy… Continue reading My Network Just Got a Lot Bigger!

What Kind of Housing Market Can We Expect in 2022?

What kind of market can we expect in 2022? The Housing Market in 2021 The total value of the residential real estate market grew by a record amount in 2021 – $6.9 trillion – to $43.4 trillion. (Source: Manhertz) This value gain comes from an increase in home values due a decrease in inventory (less… Continue reading What Kind of Housing Market Can We Expect in 2022?

New Temporary Requirement for Condos and Co-Ops due to Champlain South Tower Collapse

New Temporary Requirement for Condos and Co-Ops Fannie Mae has a new temporary requirement for condo and co-op projects due to the collapse of the Champlain South Tower in Surfside, FL. In response to concerns over projects with significant deferred maintenance, Fannie Mae is issuing temporary new requirements effective Jan 1, 2022. Buyer putting less… Continue reading New Temporary Requirement for Condos and Co-Ops due to Champlain South Tower Collapse

How’s the Market? Oct 2021

Demand | Market Oct 2021? How’s the Market Oct 2021? We started to see a softening at the end of the summer and we were not sure if that was going to be a blip or continue. Demand for homes in the DC Metro area eased in October. The Bright MLS | T3 Home Demand… Continue reading How’s the Market? Oct 2021