Of course, he is right. And for the market we live in, this is one very lucky truth right now. While in some parts of the country property values have dropped more than fifty percent, prices in the DC metro area generally have not, at least not in the very close-in neighborhoods.
But it’s more complicated than that: overall market activity and inventory remain low. Many sellers seem to hold back for more lucrative times, while many buyers have a hard time finding a house.
Want to chat with the experts? Tune in tomorrow at noon to the Washington Post online for a live talk with expert demographer Lisa Sturtevant, who will chat with readers about “why the inventory is so low, what impact it might have on the region and where pockets of affordable inventory remain.”
Sounds interesting, doesn’t it? I’ll definitely stop by–perhaps I’ll learn something new as well!