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Home Buying in DC Area May Be Picking Up

  • April 3rd 2009

by Mark Wellborn

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Despite pessimistic statistics and a general feeling of uneasiness, it looks like home buying interest may be increasing in the DC area. Melissa Castro of the Washington Business Journal has an article out today that says there has been a burst of activity in the local market recently.

Castro writes that nearly 200 people came to an open house at 1511 Q Street last Sunday. (Note: We featured the same property last Friday.) At a broker’s open this past Tuesday, 50 agents showed up.

From the WBJ:

“…agents are feeling an optimism that has been missing since the local market started its slow but steady decline in late 2005. It’s an optimism that can’t be explained by the official statistics, which lag behind the current market and showed fewer listings, fewer pending sales and fewer settlements in D.C. this February than last.”

While that is not a passage that would inspire “optimism” in most, the Journal reports that preliminary numbers for March show pending sales up 11 percent from a year ago.

For the full article, click here.

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/home_buying_in_dc_area_may_be_picking_up/754.

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