Expectations for Spring market?

[Anonymous]

Do you think it will pick up or more of the same?

[Anonymous]

My crystal ball says "maybe"

[Anonymous]

It usually picks up, even during down markets. The big question is what will happen with rates and their effect on prices.

[Anonymous]

There have been two houses listed recently in my immediate neighborhood in Alexandria City and both had a decent number of showings and multiple offers, going contingent in under 4 days.

Seems to be a busy January at least.

[Anonymous]

Anonymous wrote:Do you think it will pick up or more of the same?

As with the last ten years at least, the close in market begins in early January with low inventory and people anxious to buy. It slows down in April as the early buyers have removed themselves from the market.

Outside close in areas, the market begins a little later -- maybe March -- and then is very active until school ends.

In both cases, the anxious buyers buy early and throw money at houses. The timid buyers wait until the market slows down.

Plus ca change, plus ca la meme chose.

[Anonymous]

IMO best houses will be the early ones. The later spring & summer ones are people looking to offload before there’s a correction.

[Anonymous]

Anonymous wrote:IMO best houses will be the early ones. The later spring & summer ones are people looking to offload before there’s a correction.

The late spring/summer sellers often sell then because that happens to be when they are ready to sell - for example it took them until April to go under contract on their next house and they move in then list their prior home in June. Vast majority are not “offloading” under some mystical correction prediction around here.

[Anonymous]

Anonymous wrote:

Anonymous wrote:IMO best houses will be the early ones. The later spring & summer ones are people looking to offload before there’s a correction.

The late spring/summer sellers often sell then because that happens to be when they are ready to sell - for example it took them until April to go under contract on their next house and they move in then list their prior home in June. Vast majority are not “offloading” under some mystical correction prediction around here.

+1

[Anonymous]

What are the predictions for interest rates?

[Anonymous]

Anonymous wrote:What are the predictions for interest rates?

Everyone says they are going to go down. But as of right now, they are holding.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:IMO best houses will be the early ones. The later spring & summer ones are people looking to offload before there’s a correction.

The late spring/summer sellers often sell then because that happens to be when they are ready to sell - for example it took them until April to go under contract on their next house and they move in then list their prior home in June. Vast majority are not “offloading” under some mystical correction prediction around here.

+1

We're sort of the reverse, listing our current home in March/April while searching for our next one. Using a bridge loan as a 'just in case' way to hold a new home while we figure out selling. Will rent in the meantime.

[Anonymous]

If rates go down to even 6.0-6.5%, I expect the spring market to be hot this year compared to last year when rates hit 7.5%.

[Anonymous]

Well priced homes in Western Loudoun are going within days if that is any indication. One in Lovettsville went under contract before even officially going on market but it was $599,999.

[Anonymous]

My real estate agent said a property listed at $825k in Springfield got 23 offers last week. Yikes!

[Anonymous]

Anonymous wrote:If rates go down to even 6.0-6.5%, I expect the spring market to be hot this year compared to last year when rates hit 7.5%.

Rates are there now, I locked in at 6.375