Jump to content

Metro DC Housing Market


tombarnes

Recommended Posts

House Sales Increasingly Called Off

More New-Home Buyers Are Canceling Contracts

NVR Inc., the region's largest home builder, said yesterday that four out of 10 of its new-home sales in the Washington area were canceled last quarter, making it the latest builder to report that more buyers are backing out of deals.

Around the Washington market, cancellation rates have tripled in the past year, to 17 percent, according to researchers at Hanley Wood Market Intelligence. In August alone, that meant about 250 cancellations. In its most recent earnings report, builder Toll Brothers Inc. said cancellations in the quarter that ended in July had more than doubled, to 18 percent nationally, while numerous builders said in interviews that their cancellations locally had increased.

Link to comment
Share on other sites


  • Replies 62
  • Created
  • Last Reply

High Hopes, and Higher Home Prices, in Anacostia

Development Is Part Of Plan to Diversify, Mend Worn D.C. Area

The newest government-supported housing in the District is a landscaped development of four-bedroom homes with Palladian windows, cathedral ceilings, hardwood floors and prices that reach $584,000.

The District gave the builders of the Homes at Woodmont about $1 million toward the $14 million project on Good Hope Road SE because it wants to attract professionals and their money to the most economically distressed section of the city.

The city is trying to use tax dollars, housing policy and, in one instance, legal power to inject middle-class elements into the long-distressed area, which is east of the Anacostia River at the northern tip of Ward 8 and has the city's largest concentration of public housing and the lowest median income.

Link to comment
Share on other sites

On Loudoun's Horizon, a Taste of Opulence

Ritz-Affiliated Housing About to Rise in Western Portion of County

Think cathedral ceilings, marble countertops and a back door that opens to a golf course represent the ultimate in luxury living?

How about a personal concierge who can pick up your kids from school and drop them off at band practice, organize a birthday party for your twins or have roast duck on the table by dinnertime?

That's the indulgent promise of Creighton Farms, a 180-house luxury gated community being developed in western Loudoun County, its upper-crusty reputation sealed by an affiliation with the swanky Ritz-Carlton hotel chain.

Link to comment
Share on other sites

Sales of existing homes fall

Median sales price also drops

By Martin Crutsinger

The Associated Press

Originally published October 25, 2006, 1:02 PM EDT

WASHINGTON // Sales of existing homes in the U.S. fell for a sixth straight month in September and the median sales price dropped on an annual basis by the largest amount on record, further documenting a lukewarm housing market.

The National Association of Realtors reported that sales of previously owned homes fell by 1.9 percent in September to a seasonally adjusted sales pace of 6.18 million units, the slowest sales rate since January 2004

http://www.baltimoresun.com/business/reale...iness-headlines

Link to comment
Share on other sites

  • 3 weeks later...

Realtors: Home construction, sales to fall further

The housing slowdown hasn't bottomed out yet, according to an updated forecast from the National Association of Realtors.

The trade group now predicts new home construction will fall almost 12 percent in 2007. It says new home sales, which likely fell almost 17 percent this year, will drop another 8.7 percent next year.

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.

  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...

Important Information

By using this site you agree to our Terms of Use and Privacy Policy. We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.