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Reply to "Is there going to be panic selling?"
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[quote=Anonymous]Active inventory in DC, MoCo, PG, Arlington, Alexandria and Fairfax has hovered slightly above 5k active units for the last two months. This is slightly above inventory levels during the pandemic. Properties going under contract are weekly outpacing new active listings which is a clear indicator of a seller's market. The market is someone tricky because you do not have move-up buyers who have low interest rates. The higher interest rates have capped prices. We have seen move movements in higher-end where buyer's have cash and more equity from previous homes as well. Nevertheless, we would have to absorb at least 4k new active listings in a short period of time to shift the tide. We may return to a normal market, balanced market, which we have not seen for quite some time but I would not panic for a while.[/quote]
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