Press Club

Just Listed in Arlington

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.”

While Arlington shivers in its coldest temperatures in a decade, home buyers are warmed up and ratifying contracts.

The cold didn’t stop 45 buyers from purchasing homes this week. But home sellers seemed intimidated, listing only 39 properties. This does not help our problem of low inventory. Arlington currently has only 197 homes actively for sale.

At the current rate of absorption, that’s only 1.1 months of supply. This is the lowest level of inventory I have witnessed since the crazy days of 2004. We should start to see this kind of pressure pushing prices higher which is not good news for buyers.

But the Federal Reserve this week delivered some good news that it will hold off raising the short-term bank rate until further notice. That gave Wall Street a bump, lowered yields on U.S. Treasuries and pushed mortgage rates down a few basis points to about 4.5% for a 30-yr fixed rate.

The Fed said it wasn’t as concerned about inflation but is watching “global economic developments.” It lowered its assessment of U.S. economic growth from “strong” to “solid.”

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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