Home inventory is down in the Washington DC metro area. In some neighborhoods there are simply no homes for buyers. “Inventories were down in all of the nation’s 30 largest housing markets, compared for 2012 as a whole,” according to the Wall Street Journal. And, confirming the laws of supply and demand, home prices are up. In fact, home prices in the DC area are up more than 12% as compared to the same time last year. An interactive chart by the WSJ shows these changes in the DC market as well as other markets across the country.
If you’re a home owner and have been considering selling your home, the time is now. Give me a call. I can help.