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.”

Arlington’s summer real estate market continues at a strong pace with both buyers and sellers performing well.

Home sellers listed 61 properties this week, and buyers ratified 53 contracts. Some 29 of those contracts were on homes listed for a week or less. The average days on market has shifted slightly to just 18. These are strong numbers for a summer market.

But below the calm steady surface of the housing market lies powerful currents that could greatly affect home sales. Amidst signs of a slowing U.S. economy, The Fed has been under pressure by the administration to cut rates as an economic stimulus.

The Fed met on Wednesday and announced it was holding firm with no rate cuts in sight, opting to play a wait and see approach based on economic growth changes. And Fannie Mae this week lowered its projections for economic growth in 2019 and 2020 which it believes could raise mortgage rates later this year.

Trade wars and weakening consumer and business confidence are cited as the main causes for slowing economic growth. The weak jobs reports for the last several months have added to the concerns.

These dynamics will influence mortgage rates, and mortgage rates have a powerful influence on our housing market as does consumer confidence.

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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