DC Real Estate

Mortgage Rates Drop Below 3.6 Percent

Long-term mortgage rates dropped below 3.6 percent this week. On Thursday, Freddie Mac reported 3.57 percent with an average 0.5 point as the average for a 30-year mortgage, down eight basis points from last week. “The fifty-year low in the unemployment rate combined with low mortgage rates has led to increased homebuyer demand this year," Freddie [...]

2019-10-11T20:57:02+00:00October 11th, 2019|

The 6 D.C. Neighborhoods Where Homes Are Selling Fastest

If you want to get a handle on the DC neighborhoods that have the most competitive housing markets, the median days on market is a good metric to start with, as it shows you where homes are selling the fastest. The regional multiple listing service Bright MLS changed the way that it measures "days on [...]

2019-10-04T22:33:49+00:00October 4th, 2019|

The 4 DC Neighborhoods With Very Few Homes For Sale

On Friday, UrbanTurf looked at three real estate metrics that might determine the trajectory of the fall housing market in the DC area. One of those charts focused on the inventory of homes for sale (or lack thereof). Today, we dive a little deeper, examining the DC neighborhoods where the supply shortage is particularly acute. For the [...]

2019-09-20T18:57:40+00:00September 20th, 2019|

Nationwide Housing Starts At 12-Year High

Construction began on 1.36 million housing units in August — a 12 percent jump compared to July, and 6.6 percent higher than observed in August 2018. The monthly total is the highest number of housing starts since June 2007. Residential building permits in August also increased to 1.42 million, 7.7 percent more than in July [...]

2019-09-20T18:54:28+00:00September 20th, 2019|

Long-Term Mortgage Rates Fall Below 3.5%

Long-term mortgage rates are now at their lowest level in three years. On Thursday, Freddie Mac reported 3.49 percent with an average 0.5 point as the average for a 30-year mortgage. Rates fell below 3.5 percent for the first time since October 2016. “Mortgage rates continued the summer swoon due to weaker economic data," Freddie Mac's [...]

2019-09-07T02:13:15+00:00September 7th, 2019|

DC’s Office of Planning Hints at Allowing Second Short-Term Rentals in DC

Earlier this summer, DC Council Chair Phil Mendelson filed a zoning application to nudge the Zoning Commission — and the Office of Planning (OP) — to codify short-term rentals in DC as by-right in residential zones. Now, the planning agency is offering recommendations on how zoning should address short-term rentals, including a hint at some changes which should [...]

2019-09-07T02:11:27+00:00September 7th, 2019|