Local Market Report
(there is no national real estate market)
The months supply of homes on the market is 1.1, down from last month’s 1.4. After the hottest November and December markets in 15 years, our 2020 vision sees more of the same, especially in Northern Virginia. This is very likely a result of the Amazon effect, but their HQ2 hiring is not expected to be in full-swing until 2022.
Northern Virginia leads at 0.8 months supply; followed by Loudoun County at 1.0; Montgomery County at 1.2; and Washington DC at 1.5. All jurisdictions except DC are in hot sellers' market territory. There are now only 15 homes for sale in ZIP code 22202 (aka HQ2) and 8 in neighboring 22301. Stay tuned.
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The report above is prepared monthly from David's independent research for his clients. It does not contain important data for macro-economists, is not tailored for a TV audience, includes no national data, and is not prepared by the computer weenies at the MLS. Click this link to learn how this report is prepared and why it is the best available anywhere!
1. The market index represents the months supply of resale homes and measures the ratio of home buyers to home sellers. Below 1.5 is a hot sellers' market; 1.5 to 3.0 is a normal sellers' market; 3.0 to 5.0 is a neutral market; above 5.0 is a buyers' market.
2. Northern Virginia: Alexandria, Arlington County, and Fairfax County (including Fairfax City and Falls Church City).
3. Results are not seasonally adjusted.
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Your Friend in Real Estate, LLC
Arlington, Virginia, USA
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