TWO MORE CHARTS & THREE THINGS TO WATCH
The DC Metro area has the fifth highest number of employed residents who work from home, which is why demand for housing further out from the center (D.C.) has increased over the last few years.
Aside from a temporary drop at the beginning of the pandemic, existing home sales are at the lowest levels since 2010. The increased interest rates and low inventory are keeping some sellers out of the market.
THREE THINGS TO WATCH:
1. THE FED The market will welcome any signs that The Fed is finished hiking rates.
2. INFLATION DATA Favorable short term inflation readings will help to stabilize interest rates.
3. INVENTORY LEVELS An uptick in housing supply will help satisfy existing demand.