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WSJ: First-Time and Downsizing Buyers Keep DC Market Healthy

  • June 2nd 2011

by Mark Wellborn

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WSJ: First-Time and Downsizing Buyers Keep DC Market Healthy: Figure 1
Adams Morgan row homes.

The Wall Street Journal has an article in today’s edition that examines the relatively healthy state of the DC housing market compared to the rest of the country.

In addition to the recent Case-Shiller report and other news that signals a healthy market, the article cites the DC area’s stable employment and low foreclosure rate, two reasons that have long been attributed for the market’s continued vitality.

It also notes that the area has an abundance of people who still want to buy homes, which in many cases is leading to multiple-offer situations and a signal of a return to a seller’s market. (A few weeks ago, UrbanTurf highlighted the hot market for single-family homes on Capitol Hill where houses with three or more bedrooms are being snatched up within a week.)

The buyers leading the charge in the region, according to the paper, are those who are absent in other markets:

Economists say the region continues to both attract and keep those house hunters still missing in many areas: first-time, move-up and downsizing buyers, as opposed to luxury or investment buyers.

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/wsj_first-time_and_downsizing_buyers_keep_dc_market_healthy/3590.

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