Spring Market=More Houses?

[Anonymous]

Feeling so antsy - have been looking for the right house for what feels like forever. It seems like there's very little inventory in the nieghborhoods we're searching.

Do people in the know think Spring will bring a good deal more inventory?

We are looking in Cleveland Park, Woodley Park, Georgetown, Wesley Heights and Kent.

[Anonymous]

Not with the market the way it is

[Anonymous]

Anonymous wrote:Not with the market the way it is

curious what you mean specifically. higher interest rates? people still underwater? ?

[Anonymous]

Agents are saying it should see a decent boom in houses on the market in the next month or so. Of course, only time will tell. We are planning to list in the summer...and buy.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Not with the market the way it is

curious what you mean specifically. higher interest rates? people still underwater? ?

Do you mean because many cannot get what they paid for their houses right now - so they're waiting?

[Anonymous]

The artificially low rates have generated a locked up market, because now people never want to sell and have to accept 'higher' rates at 4-5% (what I have to pay interest).

Inventory shortage has triggered the current bubble. Who knows how it will play out until it pops...

[Anonymous]

There will be a modest boost in inventory in your target markets just due to the usual pre-school movement of folks out of DC to the burbs. But each year that gets smaller and smaller.

The fundamental problem inside the Beltway is that job growth has outpaced inventory growth, except for small apartments, and you just have more people searching for less. The decline in govt contracting and defense is making inventory rise in outer ffx and loudoun, but otherwise it's strong across the area.

[Anonymous]

Anonymous wrote:There will be a modest boost in inventory in your target markets just due to the usual pre-school movement of folks out of DC to the burbs. But each year that gets smaller and smaller.

The fundamental problem inside the Beltway is that job growth has outpaced inventory growth, except for small apartments, and you just have more people searching for less. The decline in govt contracting and defense is making inventory rise in outer ffx and loudoun, but otherwise it's strong across the area.

What industries "inside the beltway" have seen job growth in last 2-3 yrs?

[Anonymous]

Anonymous wrote:The artificially low rates have generated a locked up market, because now people never want to sell and have to accept 'higher' rates at 4-5% (what I have to pay interest).

Inventory shortage has triggered the current bubble. Who knows how it will play out until it pops...

What percentage of homeowners currently have low rates though? not everyone

[Anonymous]

This IS the spring market.

[Anonymous]

Anonymous wrote:

Anonymous wrote:The artificially low rates have generated a locked up market, because now people never want to sell and have to accept 'higher' rates at 4-5% (what I have to pay interest).

Inventory shortage has triggered the current bubble. Who knows how it will play out until it pops...

What percentage of homeowners currently have low rates though? not everyone

I agree with this. We purchased 4 years ago and have a 3.25% mortgage. It's painful to have to move on to a 4.5%

[Anonymous]

I bet the majority of responsible adults refinanced last year and currently have low rates. We do. DH won't even consider selling now. I think this spring market will be slow.

[Anonymous]

This is it

[Anonymous]

I'm putting my house on the market next week. I don't think the spring market is here yet. I've had friends say they want the grass to green a bit more before they out up he for sale sign and take pictures

[Anonymous]

We had this conversation last Spring and there was never a boom of new houses that came on the market.