Just Listed highlights Arlington properties that just came on the market within the past week. This feature is written and sponsored by Team Cathell, “Your Orange Line Specialists.”
Sshhh… be quiet… and listen…
Can you hear the market whispering? It’s talking to us, very subtly. It’s saying things are slowing down, buyers are hesitant, there’s no sense of urgency, complacency is replacing vibrancy.
A common theme has emerged this week when talking with real estate professionals like agents, loan officers and title closers. They describe the market as “off,” “funky,” “soft,” “weird,” “squishy.” These are not yet technical terms in real estate lexicon, but they portend things to come. We may be on the verge of a subtle shift.
When consumers’ confidence in the economy wanes, it’s reflected in a depressed housing market because they are averse to risk regarding major financial decisions and commitments. When consumers feel the future economy is strong, it’s reflected in active home and auto sales.
This week in Arlington, 83 sellers put their homes on the market and 56 buyers ratified contracts. And about 60 sellers lowered their prices, a high number for the peak of the Fall market.
Interest rates show tiny signs of inching upward. The 30-yr fixed rate ticked up about 4 basis points this week to about 4.05%. The Fed’s move to shed 10-yr T bills and mortgage backed securities is competing with Treasury’s sale of 10-yr bonds so it raised the yield this week by 8 basis point, which in turn influenced mortgage rates. Increased rates will lower a home buyer’s purchasing power. Are dark clouds forming on the horizon of our housing market?
Click to see all the fresh new inventory in MRIS and call Team Cathell (703-975-2500) when you find a home you like.
- 2908 DINWIDDIE ST S, ARLINGTON, VA 22206 – $439,000
- 5047 9TH ST S, ARLINGTON, VA 22204 – $448,000
- 1633 COLONIAL TER #402, ARLINGTON, VA 22209 – $549,555
- 1004 20TH ST S, ARLINGTON, VA 22202 – $765,000
- 134 OAKLAND ST N, ARLINGTON, VA 22203 – $769,000
- 150 COLUMBUS ST S, ARLINGTON, VA 22204 – $794,900
- 2221 POLLARD ST N, ARLINGTON, VA 22207 – $885,000
- 1891 16TH ST N, ARLINGTON, VA 22209 – $949,900