1) Housing affordability conditions are the best since NAR (National Association of Realtors) started recording such things in 1970. (The index is based on median home price, median family income and average mortgage interest rates).
*From the National Assoc of Realtors.
2) Inventory in the Washington Metro area is the lowest since the last quarter of 2005- the peak of the market. (Housing inventory is considered balanced when it is a 6-month supply. We now have a 3.2 month supply. This is sure to drive prices up, especially in the hottest areas with the most demand.)
*statistics provided by MRIS.