Sales were down year-over-year in every Northern Virginia county, and sales were quite weak compared to the last decade of October sales.
Source: MRIS.
Wednesday, November 10, 2010
Northern Virginia's October Housing Sales
Posted by Harriet at 2:40 PM
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7 comments:
Report: Federal workers not feeling the pain (my title).
Harriet-
I agree the feds are still doing fine getting cost of living adjustments and automatic step increases. Part of the reason that the number of people making 150K has gone up so much is that 5 years ago a GS 15 step 10 made less than 150K and now due to cost of living they make more than 150K. There are a lot of people at this level, because it is basically where people get capped out.
Either way I fully agree with you that federal workers and most gov contractors are not feeling pain. This is obviously what is helping keep this area so expensive...
Also thanks for the sales stats. Months of inventory continues to be very high. I would think sales mix probably has a lot to do with the price changes (no one is buying low priced houses, because they bought them in time for the tax credit). Hopefully we will not have any new government programs and we will find where the market actually stands over the next year.
I don't know how many people have read the recent paper on deficit reductions.
government deficit's
I doubt they will actually do this, but if they do the DC area growth may be much lower over the next couple decades compared to the last couple of decades.
6X Listings to sales, is pretty much a high.
if they would stop trying to jump the
market, then maybe it would hit the
clearing price.
There had been a decrease in terms of housing sales from 2009 to 2010. Well, such incident is somehow expected due to global financial crises.
In Canada, most people who's eager to have houses seek assistance from house financing (Edmonton-based) or even home loans (Alberta-based). This has been the trend in our place since 2004. I had mine through this assistance and I believe this will continue for the next 5 years.
If you look at babies web site you see
"Although CMHC no longer allow 100% financing, some lenders have been able to work around this with cash back mortgages, meaning you may be able to get into your dream home with as little as nothing down. "
So the ice weasels are doing zero down mortgages.
We know how that wil end
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