Kendra Yoshinaga
WMAL.com
WASHINGTON (WMAL)– Home sales in the Washington region rebounded in February after a small “hiccup” in January, according to data from the real estate research firm MRIS.
“There’s finally a little bit more volume coming onto the marketplace,” says analyst Andrew Strauch. Strauch says home prices are up between two and eight percent, except in Montgomery County, which has seen a slight dip.
New listings in the D.C. metro area were up 5.1% from last February, continuing a growth trend that had experienced a brief interruption in January. According to MRIS, January’s decline in new listings was “strictly weather-related.” Half of the homes sold in February spent less than 45 days on the market.
Looking ahead, Strauch says that buyers remain motivated. “People are looking at potential rises in interest rates,” he says, “and so they want to see what they can do to get into the market before the interest rates do rise.”
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