The local, and in fact national real estate market has seen record upward movement in sales prices and volume since the start of the COVID-19 pandemic.
Our market here in Loudoun County and Northern Virginia is no exception as recently released quarter 4 2021 versus the same period in 2020 reveal.
As we have all seen, inflation is at a 40 year high at 7.5% which is expected to decrease later in the year, but it's certainly a concern.
Interest rates are on the rise and indicators are that mortgage rates could be 1% higher than they are today by summer. That's relatively significant but would still be in the 4's, well well below what we were used to not so many years ago.
For the full report, click or press HERE and as always, don't hesitate to give me a call, text or email for more information.
n.b. thanks to the Dulles Area Association of Realtors, of which I am a board member, for these well researched figures
Peter writes for his local magazine, Country Zest & Style, as its Wine Editor. He also enjoys writing blogs on interesting and pertinent real estate matters, so please follow!