Nov
15
2005

cooling off

An “oldie” (from Friday), but still music to my ears: The Washington Post reports that the local housing market is definitely cooling off. (“Housing Market Cooling, Data Say” - 11/11/05)

New data released yesterday show that in the past year, home sales in the Washington region have declined sharply, the inventory of unsold homes is up significantly, and prices have flattened and, in some cases, fallen…

In the two counties and three cities that make up the Northern Virginia market, more than twice as many homes were available for sale in October as in the same month one year ago — 7,122 homes, compared with 3,254 — and sales are off 28 percent.

Now, if things can only stay cooled off for another year or so, when I’ll be able to start thinking about buying my own place. Not that I’m really expecting prices to go down, but it’ll be nice if they’re not skyrocketing up. Things are too expensive as it is.

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Posted at 9:54 AM in washington, dc

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