Welcome back to my monthly series – “How’s the Market?” This is the August 2022 edition which covers July 2022 data. OVERALL MARKET PREDICTIONS: Where are we going for the rest of 2022 into 2023 Overall, expect the housing market activity to continue to slow through the second half of 2022 and into early 2023… Continue reading How’s the Market? Is it a buyer’s market now?
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?
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?
DC Housing market | 2021 mid-year market review!
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
Short answer – We don’t know yet, but right now it looks like summer slow down. Let’s start with the stats – how did July look? Average prices in Maryland for July are up 13.6% to $446,802. Since June 2021, the supply/months of inventory increased to 1.1 (in July 2020, it was 2) and median… Continue reading How’s the Market? Is it softening? Is this a shift?
A Covid Update Since April 2020 Let’s start by talking about what happened. The US has experienced the longest economic expansion ever and then 10 years of progress was lost in a single month. While we are not back to fully recovered, the housing market has continued to do well. And in general, people who… Continue reading How is the Market? A covid update since April 2020
September 2020 vs 2019 As we head into the late fall, let’s take a look at the housing market and see where we are. This year has several “unusual forces” acting upon it – covid-19 and everything that comes with it, the looming vaccine(s), the upcoming election, a potential Presidential transition, and the inauguration. … Continue reading How’s the Market? September 2020 vs 2019
Midyear 2020 Pricing Review Midyear 2020 Pricing Review | How is the market? Average and median sales prices are up in DC, Montgomery and PG county for Jan-July 2020. Maryland Real Estate. If we look at Maryland as a whole we see similar trends as well. “While real estate remains a bright spot in this… Continue reading Midyear 2020 Pricing Review
I give you a market update that talks about both national real estate trends and what is happening in our local DC metro area market. How is the real estate market in this pandemic? Realtor (national) perspective on buyer attitude shifts: 43% buyers delaying process a couple of months 19% buyers stopped looking due to… Continue reading How has Covid-19 Affected the Real Estate Market?