The Nation's Hottest Housing Market: DC Home Prices Up 7.3% From Last Year
By: admin on July 1st, 2010
Washington’s certainly the center of attention around the globe, not only surrounding the political environment, but for commerce, real estate, and quality of life, too.
It’s no wonder DC topped the list, again, for leading the nation’s best housing markets. The Washington Business Journal just reported that DC home prices were up 7.3% from one year ago. It’s also a sign that it’s THE time to buy – with historically low interest rates leading to lower monthly payments and significantly better affordability. There’s no reason to wait for prices to continue to climb.
So what makes the Washington Metropolitan area so hot?
· Since the year 2000, it’s had the second greatest number of job gains in the country – and it’s still named one of Forbes’ best places to find a job – meaning DC will continue to have strong housing demand.
· It has the largest concentration of degreed professionals, attracting new investment in services and tech fields. Perhaps that’s why it’s welcomed 5 major corporate headquarter relocations in the last two years, including Northrop Grumman, SAIC, and Hilton Hotels. And the DC area is home to more Inc. 500 fastest-growing companies than any other region.
· It leads the world in international real estate investment demand, ahead of London and New York.
But wait, there’s more:
· Residents enjoy wide sidewalks, pedestrian-friendly streetscapes and access to 234,000 acres of parkland and more than 800 miles of bikeways. Low rise skylines provide an airy feel to the city.
· Between Old Town, downtown, and re-emerging neighborhoods like Hyattsville, Brookland, and Silver Spring – the DC area offers a diverse range of architectural styles to suit every taste and budget.
· It’s a boon for small restaurateurs wanting to capture local residents’ appetites with internationally-inspired, chef-inspired, or simply classic good eats. Since the area is so walker-friendly, neighborhoods all over town enjoy easy access to countless dining options.
· DC boasts one of the world’s largest transit systems – connecting over 3 million people to the nation’s capital 24-hours-a-day among 1,500 square miles.
· There are more than 80 theatre companies, 6 major league sports teams and 15 FREE Smithsonian Museums.
The bottom line is this: there’s no better place in the country to buy a home and there’s no better time to buy than now. With continued investment in the Washington Metropolitan area, countless free attractions and amenities, and a quality of life that’s like no other, DC’s a safe bet and a good buy.