River East Report’s “Hows the Market” Monthly April 2009 Update
It sure looks like the spring housing market in D.C. is on its biggest roll in years! Check out he Market Action Index chart below, we are continuing to see a strong increase as the federal housing tax credit for first time buyers kicks in.
As you can see from the Median Price chart below the D.C. house prices are continuing to rise this spring as the local housing market picks up.
Housing inventory continued to rise in D.C. houses last month, check out the chart below that confirms lots of new homes in Washington, D.C. are getting listed as sellers look to take advantage of a strong spring housing market
As I would expect the Average Days on Market (DOM) has just started to peak and drop as we start to see newer listings selling faster than some of the older listings as the demand for housing takes big jump and begins to clear the market