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Just Listed in Arlington

by ARLnow.com Sponsor December 1, 2017 at 6:00 am 0

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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.”

The Thanksgiving hangover may have slowed the pace of real estate activity this week in Arlington.  Only 29 sellers braved to put their homes on the market, and only 29 buyers ratified contracts this week.  That’s not unusual for the season. What was surprising is that only three homes sold within a week, and many homes that sold had been on the market a very long time, one as long as 655 days.  That raised the average days on market to 68. A lot of stale inventory got cleared out this week, and that’s a good thing.

Mortgage purchase applications were up 2% this week and 6% over the same week a year ago which could indicate increasing demand.  Meanwhile, refinance applications dropped to their lowest level since January indicating the refinance market may have run its course by now.

Watch for news in the coming days about household incomes finally starting to increase. This should have a considerable influence on consumer confidence that will translate into stronger housing demand.

Interest rates bounced around and ended up unchanged at about 4% for a 30-yr fixed rate with no points.

Click to see all the fresh new inventory in MRIS and call Team Cathell (703-975-2500) when you find a home you like.

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