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Buckle Up! Washington DC & Northern Virginia Housing Forecast

Hello everyone, Chris Colgan here, your trusted DMV area realtor. Today, we're reviewing a BrightMLS report on the Northern Virginia and DC Metro real estate market. Key insights include a slight 1.3% increase in home inventory for 2024 and a 3.3% moderation in home price growth. Regional variations show a 4% price increase in the D.C. area and a 2.4% decrease in North Central Virginia. Interest rates, currently at 7%, are expected to drop to 6.4% by year-end, potentially boosting market activity. Despite inventory increases, levels remain below pre-pandemic figures. The DMV market remains resilient, especially in high-demand areas like Arlington and Alexandria. For more updates, contact me at [email protected] or follow us on Instagram at @ChrisColganTeam. Thank you for tuning in! 🚨Subscribe to my channel! 👇👇👇👇👇 ✅ https://bit.ly/3sQ9s0p 0:00 Washington DC - Northern Virginia Housing Market 0:40 2024 Housing Market Predictions 1:16 Inventory Changes in DC and Nova 2:18 Why are people selling homes? 2:40 DC Area Price Changes for 2024 3:26 Washington DC Suburb Price Changes 3:50 Home Prices between 2019-2024 5:15 Rate Predictions 5:50 Home Sale Activity 6:10 Home Sale Predictions for 2024 7:30 Washington and NoVa Houding Price Predictions 8:16 2024 Listing Predictions We have so many people contacting us who are moving to the Northern Virginia are and we Love it!! Honestly if you are thinking of moving or relocating to the Virginia and DC area, we can make the move so much easier for you!!! Contact the Team - Chris Colgan - Washington DC and Virginia Realtor 📞Call/Text Direct at 571-437-7575 📧 Email: [email protected] EXP Realty License - VA 0225 075803 Washington DC SP40003083 Follow us on Instagram!   / chriscolganteam