Get Smart With City Chic is a bi-weekly column giving you the real talk rundown on what’s happening with the D.C. real estate market. Sponsored and written by Lindsay Dreyer, the broker/owner ofWelcome to our first installment of Get Smart With City Chic! Today we’re going to tackle the question everyone’s asking: is the D.C. housing market going to crash?
On the demand side, the largest demographic group in the US, the Millennials, are now in their 30s and in prime home buying age. They are buying their first homes and move-up homes, which is creating a crunch across the entire housing market. Currently, interest rates have settled in the 5’s and prices are stabilizing. We’re even seeing homes sit on the market longer than a week… and price reductions! It’s a new world!