NOVA Homes Blog: Optimism for Northern Virginia Real Estate Market Increasing

Tuesday, June 9, 2015

Optimism for Northern Virginia Real Estate Market Increasing

Temperatures are not the only thing rising this summer in NoVa, optimism for the real estate market is on the up and up too! According to Fannie Mae's May 2015 National Housing Survey, homebuyer attitudes toward housing are strengthening. Not only is this great news for those looking to sell, but it also echoes other predictions that the market will see a surge this year.

Why the healthy outlook on behalf of potential buyers? Many survey participants reported an increase in household income, which is a survey high and driving force.

"As job growth appears to be driving meaningful income growth, the outlook for housing market growth is improving," Fannie's Mae's report stated.

Another contributing factor is the number of those who believe now is a great time to sell in the Northern Virginia and DC area. In fact, nearly half of all survey participants would agree that this is opportune timing for making a move.

And not just making a move in general, according to the survey, but making the move to homeownership. The number of consumers who said they would prefer to buy a home rather than rent for their next move rose again, hiking three points up to 66 percent last month.

"We have found that these two indicators—good time to sell and income growth—are key drivers for the performance of the housing market," said the senior vice president and chief economist at Fannie Mae. "The increase in these indicators suggests our forecast of moderate improvement in the housing market in 2015 is on course."

With optimism on the rise and the market gaining momentum, there is no doubt that this summer holds great things for both home sellers and homebuyers.

If you're ready to make a move in the real estate market in DC and surrounding communities like McLean, Springfield, Centreville, Falls Church, Alexandria and Arlington, give me a call! With my decades of experience, I am happy to help you take advantage of this exciting time.

I happily serve the areas of Alexandria, Annandale, Arlington, Burke, Centreville, Chantilly, Clifton, Fairfax City, Falls Church, Great Falls, Herndon, Lake Ridge, McLean, Mount Vernon, Reston, Rosslyn, Springfield, Tyson’s Corner and Vienna.

Earle Whitmore

Long & Foster Real Estate, Inc.
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When you first meet Earle, she greets you with a firm handshake and a broad smile. She has a certain charm and friendly nature that immediately set you at ease. As you talk to her, she listens intently. You can see by the earnest look on her face that she’s already developing ideas and strategies to accomplish your goals. By the end of your conversation, you’re surprised that someone can have such a clear understanding of your needs after just one meeting. This is the essence of Earle’s real estate service. She’s a straightforward businesswoman who doesn’t let up until her clients are satisfied.
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