Just Listed in Arlington

by ARLnow.com Sponsor December 21, 2018 at 6:00 am 0

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.”

Merry Christmas and Happy Holidays!!

Team Cathell wishes you and your family a happy and safe holiday weekend.

Don’t worry about Arlington’s real estate market. Although this has been the slowest week of the year for new listings with only 21 sellers putting their homes on the market, it’s doing just fine.

Buyers, however, were very active ratifying 43 contracts, with an average days on market jumping to 77. That’s because many of the homes that sold had been on the market a very long time. So a lot of old inventory got cleared out this week.

Mortgage interest rates dropped 6-10 basis points this week on the news Wednesday that the Federal Reserve raised short term interest rates by 0.25% to help quell inflation jitters. But the Fed also said they expect to raise rates only twice in 2019.

Also influencing the mortgage rate drop was Wall Street’s continued slide this week as investors moved capital out of risky equities and into safe 10-yr U.S. Treasury bonds which drove the yield down. That’s all good for home buyers.

Freddie Mac yesterday credited the lower mortgage interest rates so far this 4th quarter for an increase nationally in existing home sales which had been down 10% from 2017 levels. There’s been a moderate pickup in sales for October and November. All this bodes well for a vibrant spring real estate market, so keep your seat belt fastened.

Click here 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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