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Thursday, December 1, 2022

Real Estate

Survey: Local residents need to work slightly longer to pay rent

An American making an average wage needs to work about 63 hours before earning enough to pay the typical monthly U.S. rent. That is three hours more than they would have needed to work a year ago, and six...

Weichert office doing its part to keep Route 123 clean

Members of the McLean office of Weichert, Realtors, recently picked up litter along a stretch of Route 123 in the fifth year of Weichert’s local participation in the Virginia Department of Transportation’s Adopt-a-Highway program. “The Adopt-a-Highway program offers a great...

Absent miracle, Va. home sales to end year on down note

Barring a surprising Christmas, Hanukkah or Festivus miracle, Virginia home sales for full-year 2022 will be down by double digits from a year before, even as prices will show a year-over-year increase. With 10 months’ worth of data now in...

Housing starts tumble as economic headwinds grow

Elevated mortgage rates, high construction costs for concrete and other building materials and weakening demand stemming from deteriorating affordability conditions continue to act as a drag on single-family housing production. Overall housing starts decreased 4.2 percent to a seasonally adjusted...

Va. home buyers, sellers seem to be taking a breather

Those seeking more proof that the real-estate market seems to be going into wintertime hibernation need only look to the most recent sales and sales-price figures from the Virginia Realtors trade group. The 8,828 sales recorded statewide in October represented...

More N.Va. home-sellers accepting less than listing price

Sellers who found buyers for their homes in October across Northern Virginia received, on average, less than full asking price, confirming that the market is shifting if not entirely to buyers, then a certain way in their direction. Among six...

Year-to-date home sales sluggish across region

No surprise here: Year-to-date home sales through October across Northern Virginia’s major jurisdictions show significant dropoffs from the same period in 2021. A total of 28,998 properties went to close during the first 10 months of this year in Arlington,...

N.Va. home buyers, sellers both skittish as end of year approaches

Home prices across Northern Virginia continued to be propped up by a dearth of inventory across the region, as prospective sellers seem to be holding back in hopes of a stronger spring season. “Interesting dynamics are shaping our local market,...

Kitchen/bath industry seeing impact of economic downturn

The quarterly market index of the National Kitchen & Bath Association (NKBA), the world’s leading not-for-profit trade association for the kitchen and bath industry, is the lowest it has been in two years, confirming fears of industry professionals that...

Per-square-foot sales prices up from 2021, down from earlier in 2022

Home-sellers across the Washington region in October continued to garner more, on a per-square-foot basis, than a year previously in next data. But for most jurisdictions, October’s median per-square-foot sales price was trailing the average for the first 10 months...
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Candidate: Run against Beyer sets stage for GOP resurgence

It was an aggressive campaign, though in the end one that didn’t put much of a dent in the...
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