2006-11-30 12:41:08 · 3 answers · asked by Tony B 1 in Business & Finance ➔ Renting & Real Estate
Housing prices in the entire DC area (which is pretty much everything between Baltimore and Richmond) are actually falling right now. That's purchase prices and not rents. The market grew so quickly that it's a little bit over-valued right now. There are far more sellers than buyers right now and buyers are being forced to reduce their asking prices. This is a lot worse in the condo market than for townhomes and single-family homes. The decline is also a lot worse in far-out suburbs like Winchester, Manassas and Damascus than it is inside the beltway. Traditionally upscale neighborhoods in the city, like Foxhall Village, Palisades and Kent are holding mostly steady.
It's expected to get worse before it gets better. Most projections I have seen estimate another 12 months or so of decline followed by a gradual upswing. They do expect it to level off and eventually homes will be worth more than today's purchase price. If you want to buy because you want to buy a house, it's a good time, even better if you can wait a few months; but if you want to buy real estate in DC as a shorter-term investment, it's not the best time.
2006-11-30 13:55:56 · answer #1 · answered by dcgirl 7 · 0⤊ 0⤋
No there falling throw the floor no pun intended.
http://www.breakingbubble.com/index.htm
2006-11-30 15:55:14 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Yes, they are.
Rising land value and major development.
2006-11-30 12:43:23 · answer #3 · answered by Cuddly Lez 6 · 0⤊ 0⤋