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Reply to "Is the dc re market shifting?"
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[quote=Anonymous][quote=Anonymous]Checked a few Nova listings today, and was surprised to see one back on the market after being under contract for two weeks. Two others had dropped their prices by $50K. [/quote] Why are you surprised?! You all must be delusional. There are mass layoffs and job loss in the region. There is no way this doesn’t massively affect the housing market. It’s likely someone who was under contract either got spooked, lost their job, or might lose their job. I feel bad for a lot of DMV residents because for years the story line was that this area is recession proof and real estate can only go up. Well now we are experiencing massive changes to the federal government and fewer government employees in the region. Housing prices will likely drop 20-30% in the region. [/quote]
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