The DMV Real Estate Market – What’s Happening in 2022?
The last few years have been WILD in DMV real estate! Between COVID and the housing market, we’ve been on a roller coaster ride – and often unsure of when the next turn is coming. The recent months have shown that, although the ride is slowing down, we likely won’t be getting off anytime soon. For many buyers in the DMV (the District, Maryland suburbs, and Northern Virginia), the rise in mortgage rates has created fear, and in some cases, forced them out of the market. This is especially true for first-time home buyers who were already pushing their budgets to the max to get into a starter home. Higher mortgage rates mean they can no longer afford homes that were once in their budget. Many buyers are stuck waiting for more inventory in their price range to become available. Or they’re being forced to move to a more affordable … Continued
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