DC Housing Market Predictions 2019

[Jack Seiden]

What are everyone's thoughts on what 2019 will bring to the DC area market? What areas will be hot? Will prices grow at all or even drop?Personally I have been flipping houses in the DC area for over three years and have never seen the market so dead not only is stuff moving it seems that not much is coming on or dropping in price. I think we will be in for rough year outside of cheap areas mostly around PG County and maybe Frederick that will appeal to 1st time home buyers with interest rates rising. 

[Russell Brazil]

Inventory remains a challenge. Not enough people selling and lots of buyers. Market wont be as hot as it was last year, bit its still a strong sellers market. 

New condo developers have been trying to push the limits on pricing which is causing price reductions in that asset class.

Multifamily is a shrinking asset class due to condo conversions, so its hot no matter what due to low supply.

PG and Frederick are actually more volatile than DC,  NoVa and MoCo. However your part of MoCo (depending where you are in Potomac) is soft due to changing buyer desires. Gen X and younger have less demand for large acreage estates in harder to commute locations. So what would have been a Potomac buyer in years past, is now a Bethesda buyer.