Before Saya had arrived from Japan, I emailed her and asked what was the one thing she wanted to see most while in DC. For her, The White House was the one “can’t miss stop.” To make sure we could pack everything in, we woke up early and headed into the city.
We have just over a four month supply of houses to choose from based on the rate of sales in June. (517 divided by 128). Economists say that a six month supply is normal to have a balanced market. After the tax credit I expect sales activity will fall for a few months since the market “borrowed sales from the future.” This is similar to what happened in the car business after “cash for Clunkers.
Supply and demand are both growing in Ashburn, reflecting a growing economy and increased consumer confidence. According to the statistics, we have a balanced market with just under a four month supply. The conventional wisdom is that a balanced market has a six month supply. So the current direction on prices is still indicating up.
Boy are we living in interesting times! Our market has been all over the place this year! We started off the year with snowy weekends which then moved on to the February blizzard! We then experienced the frenzy of activity from Buyers qualifying for the tax credit.
If you were given 24 hours to show someone who has never been to America around DC – where would you take them?
Three weeks after moving to Metro DC, I was given this daunting task. Talk about a lot of pressure for a new DC resident; I was still just learning the city for myself! However, I was more than happy to take on the challenge…here’s why…
Talk about a See-Saw, the statistics for Gaithersburg could really confuse even a Real Estate Veteran. Fortunately, there is more to a market than statistics. So let’s jump into the stats first and then we will do some analysis.
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