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.”
Best wishes for the holidays!
Arlington set a new low record this week with only six, that’s right, six new listings. Okay, everybody knows the week between Christmas and New Year’s is the slowest of the year, but only six?
Buyers however were busy ratifying 29 contracts.
The rise in interest rates since the election has stifled home sales the last two months. A new report from the National Association of Realtors credits the rise in interest rates to the declining number of home sales. Rising rates lowers a home buyers purchasing power. A decline in the national housing market going into 2017 could impact economic recovery.
Many economists note that as goes the U.S. housing market, so goes the U.S. economy because every home sale leads to spending on related products like furniture, appliances, home furnishings, etc. Optimists point to the tightening labor market at only 4.5% unemployment rate as an indicator that salaries and wages should start to increase. This will help to offset the higher mortgage interest rates, when and if it starts to happen in our area.
For those considering buying a home in 2017, the message is clear. Ratify a contract and lock in your interest rate the soonest you can before rates climb any higher.
Click to see all the fresh new inventory in MRIS and call Team Cathell (703-975-2500) when you find a home you like.
- 2590C Arlington Mill Dr #3, Arlington, VA 22206 – $269,000
- 1210 Taft St #310, Arlington, VA 22201 – $305,000
- 4500 Four Mile Run Dr #312, Arlington, VA 22204 – $314,900
- 2005 Key Blvd #11579, Arlington, VA 22201 – $369,000
- 2100 Lee Hwy #536, Arlington, VA 22201 – $459,000
- 4313 4th St S, Arlington, VA 22204 – $620,000
- 808 Quincy St, Arlington, VA 22204 – $794,800
- 2844 Rochester St, Arlington, VA 22213 – $1,695,000