The recent presidential election made tremendous interest in the Washington D. C. area market. Figures from the third quarter indicate conditions that favor investment in new and redeveloped property, including: http://www.sellhalifaxrealestate.com/
? Low inventory: Demand for housing outstripped source in Q3. Strong demand in the first 1 / 2 of 2016 depleted available inventory, dipping to the cheapest level since 2013 Q3. There is a sleek 2. 8-month supply of homes in the M. C. area, when compared with a supply of 6 a few months when demand and source are balanced. The shortage of inventory cut the quantity of sales and the within prices. Nonetheless, year-over-year third quarter sales volume increased 4. 1 percent in 2016. Best price development took place in the Urban Core and the Outer Suburbs of the District.
? Faster sales: Normally, it took only forty seven days for homes in the Washington D. C. area to sell during Q3 of 2016, down four days from the previous Q3 and well below the 10-year average of 66 days. The exterior Suburbs saw the steepest drop (six days) in days on market, that has been most likely scheduled to low fuel prices, low interest rates, and relatively more inventory when compared to closer-in neighborhoods.
? Seller unwillingness: The demand for new and redeveloped units is extremely high, probably because of to the reluctance of homeowners to sell. Many owners are simply unable or unwilling to sell in case their home hasn’t already appreciated enough for them to profit.
An Maximum Time to Fix and Turn
These factors point to a golden, if perhaps short-lived, possibility to make investments in housing throughout the Washington, D. C. region. Demand far outstrips resource, inventory remains low and houses sell quickly. Reconstruction of local properties would help raise the housing resource and increase prices. As well as the resale of those properties for a healthy benefit looks promising. The new administration will keep an eye out to activate growth through tax slashes, reduced regulation and job creation, conditions that obviously favor higher housing prices.
The occasion is also defined by the relatively low costs for work force,, labor force and materials that at the moment apply. The fiscal government promised by the new administration, which is aimed towards up to 4 percent twelve-monthly growth in GNP, could stoke inflationary stresses, meaning 12 months from now it can be far more expensive to fix and turn residential property than it is today. In other words, the price tag on capital may be going up.