Reply to Prices dropping in MoCo???

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Reply to "Prices dropping in MoCo???"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]https://www.brightmls.com/article/greater-dc-area-weekly-housing-market-update

Seems like prices are dropping …[/quote]

This says that in the Greater DC Region and the wider Bright MLS area that prices are up YoY.[/quote]

The guidance is incredibly negative and MoCo (area this thread is about) is up .8% yoy and inflation is 2.7%, so you do the math. I think DC is up yoy by 3.8%, but again, less than a point above inflation and very slow condo sales are probably contributing. Wide variation with the greater DC area, but trending very negative.[/quote]

Very negative would be Austin and Dallas and many parts of Florida where prices are down 15%+ YoY.

The reason you own a home is a hedge against inflation because your housing costs will now be fixed vs rental costs increasing each year.

The fact that prices around here are still holding firm or increasing is actually fairly amazing.[/quote]

Shhh you're ruining it for the people who are giddy over the idea of a massive economic downturn in MoCo.[/quote]

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