Late Summer housing Market in Northern Virginia
Well summer is almost
over...Personally I feel summer bring back the positive energy we need
with so many things to do in and around. Going to beach, enjoying
barbecue food, camping trip and daily dip in the pool..... sure sound
lot of fun. But with this level of energetic personal activities does
damp our real estate market in the Northern Virginia area.
As expected the summer inventory for the northern Virginia residential real estate is low but hand in hand a lower pool of buyer also get blamed for sluggish market.
However the rental market gets
pretty busy with the relocation and lot of people looking to move up or
down size their current rental homes before the school year kicks in.
If you are sitting on the fence whether to buy or continue to rent talk to your lender and a Realtor in Virginia .
They can help you to figure out what is best for your personal
situation and guide you. If your credit needs to be further improved
work out a plan and stick to it.
Do remember few facts about our local market:
Virginia's Unemployment rate is at 7.1% we are way below nation average
and if you break down further Arlington County’s unemployment rate was
4.3 percent, Fairfax County at 5.2% and Loudoun County at 5.1%.
The other fact I read someone: Fairfax County receives more money from the federal government through
contracts than any other county in the United States. In the 2008 fiscal
year, government contracts awarded more than $17 billion to Fairfax
County.
We all heard the big bang news about Loudoun and Fairfax counties take the top two spots on
the nation’s richest counties, both touting six-figure median incomes.
Enjoy rest of your summer!!!
Comment Notification
Subscribe to this post's comments using