DC on DC
A Regular Update on the Washington Real Estate Market

“No Time to be a Mugwump”

If you are following the market, here are two recent articles that suggest things are stabilizing. Whatever your perspective buyer or seller this news should get you motivated and off the fence. To me it feels like a cool breeze on a summer dog day. It may be hot out, but there are lots of reasons to celebrate this favorite season. My sister Catherine got married last week in North Carolina—barefoot on the beach with banjos—followed by a low country boil.  Pour yourself a tall minted drink, grab some celery sticks and pimento cheese from the ice box, and look over the seven attached listings of some of the best inventory I’ve ever seen. Please call me if you would like to check out any of these or discuss other opportunities happening right now.

Click the following URL to see the listings:
http://matrix.mris.com/Matrix/Public/Email.aspx?ID=25434420072



National housing market inches upward in April

Washington Business Journal - by Adam Kress Contributing Writer

 

The latest look at the national housing market shows an unexpected improvement.
Pending home sales increased in April over March to the highest reading since October, according to the National Association of Realtors. But even with the month-to-month uptick, pending home sales remain more than 13 percent below the number reported a year ago. The National Association of Realtors' seasonally adjusted index of pending sales for existing homes rose to 88.2 from a March reading of 83.0, the lowest since the index was started in 2001. The index stood at 101.5 in April 2007. A reading of 100 is equal to the average level of sales activity in 2001. The April index in the West climbed 8.3 percent to 98.8 from March and is 4 percent higher than a year ago. In the Midwest, the index jumped 13 percent to 83.7, but is still lower than in 2007. The South posted a 4.6 percent gain to 88.8, while the Northeast index declined 1.9 percent to 79.3. The group said existing home sales this year are expected to total 5.4 million and then increase to more than 5.7 million next year.

AND…

Reuters
April pending home sales rise 6.3 pct: NAR
Monday June 9, 10:01 am ET

WASHINGTON (Reuters) - Pending sales of previously owned U.S. homes unexpectedly rose in April to their highest level in six months, a real estate trade group said on Monday.
The National Association of Realtors Pending Home Sales Index, based on contracts signed in April, increased 6.3 percent to 88.2 from an unrevised 83.0 in March. Despite the uptick, sales were 13.1 percent lower than a year ago. Economists polled by Reuters before the report were expecting pending home sales to decline 0.5 percent.
The association's chief economist Lawrence Yun said regions of the country that have seen sharp price declines, like the West, are now seeing a sales recovery.
"Bargain hunters have entered the market en masse, especially in areas that have seen double-digit price declines," he said in a statement.
(Reporting by Patrick Rucker; Editing by Neil Stempleman)

DAVID CROSSLAND
Realtor DC & MD
Long & Foster
Chevy Chase Uptown Office
4400 Jenifer Street, NW
Washington, DC 20015

Office 202.364.1300 x 6222
Mobile  202.320.5046
Fax  202.237.9889
david.crossland@longandfoster.com