DCist, December 28, 2023, Forecast For Northern Virginia Housing Market In 2024 Predicts Fewer Sales, Rising Prices
The already-tight housing market isn’t expected to get much better in DC’s Virginia suburbs in the new year, even though high interest rates are expected to ease, according to a forecast from the Northern Virginia Association of Realtors and George Mason University’s Center for Regional Analysis. Home sales are projected to be down by 10% or more in Northern Virginia in 2024, bucking national projections of increases in home sales as interest rates begin to come down. But in Northern Virginia, home sales are expected to keep declining, for one simple reason: there are not enough houses to buy.
