Arlington, VA

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.”

Even though we started the week with a travel holiday weekend, buyers really picked up the pace and were busy ratifying 60 contracts. That’s a big boost from last week’s sleepy results of just 45 homes sold.

And sellers did their part by listing 65 homes. Arlington still has a major shortage of inventory, as does most of the country. Arlington currently has only 1.1 months of inventory, not a good situation for buyers.

Mortgage rates started creeping upward last Friday and now are at 3.75% for a 30-yr fixed rate. Mortgage refinance applications increased 4% this week as owners are trying to lock in rates before they increase further. But mortgage purchase applications were down 4% due to short term economic uncertainty and lack of inventory.

A troubling retail sales report released Wednesday showed that consumer spending in September was down for the first time in seven months. The unexpected results indicated sales were down on automobiles, online purchases and building materials raising fears that the decline in the manufacturing sector could be spilling into the broader U.S. economy.

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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