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Home Prices: The Difference 5 Years Makes | Northern Virginia

Written by Posted On Tuesday, 13 March 2018 18:50

Fairfax Virginia Home Prices The Difference 5 Years Makes Dave Martin Real Estate Agent Northern Virginia Homes

Originally Posted At: "https://www.comehomevirginia.com/fairfax-virginia-home-prices-the-difference-5-years-makes/"

As Fairfax has developed and grown over the years, there are many distinct and unique neighborhoods as well as those that blend with one and another seamlessly. To list all the neighborhoods and subdivisions in Fairfax County would take pages of text. Here are just four examples of communities that have many options of fee simple (Not Condo) properties that individuals, couples and families might consider.

* Kingstowne - Alexandria (Fairfax) Virginia

* Saratoga both Homes and Town Houses

* Runnymeade at Cameron Crossing (Garage and non-Garage Town Homes)

* Kings Park West

Regardless whether you are looking a home with a contemporary or more traditional floor plan the vast number of options to choose from could make Fairfax the perfect choice for you. Fairfax also boasts many highly rated public and private school options.

Today, I would like to talk about Home Prices: The Difference 5 Years Makes

The economists at CoreLogic recently released a special report entitled, Evaluating the Housing Market Since the Great Recession. The goal of the report was to look at economic recovery since the Great Recession of December 2007 through June 2009.

A key indicator used in the report to determine the health of the current housing market was home price appreciation. CoreLogic focused on appreciation from December 2012 to December 2017 to show how home prices over the last five years have changed.

Frank Nothaft, Chief Economist at CoreLogic, commented on the importance of breaking out the data by state,

“Homeowners in the United States experienced a run-up in prices from the early 2000s to 2006, and then saw the trend reverse with steady declines through 2011. After finally reaching bottom in 2011, home prices began a slow rise back to where we are now.

Increasingly strong demand and very low supply – as well as vibrant job markets; particularly true in N. Virginia – have given some of the hardest-hit housing markets a boost in home prices. But, there are many areas that are still not back to pre-crash levels.”

The map below was created to show the national 5-year appreciation from December 2012 – December 2017 state by state.

Today let's look at what difference 5 years can make to home prices

CONTINUE READING HERE: https://www.comehomevirginia.com/fairfax-virginia-home-prices-the-difference-5-years-makes/


To protect your interests and make certain that you make the best decisions possible, it's important that you have an experienced and knowledgeable real estate agent who will watch your back and is an expert in the local real estate market. We are committed to keep you informed and on top of the local Northern Virginia real estate market. You can be certain that we will provide all the information you need to make the best choices for you and your family. We have been helping individuals, couples and families to purchase and sell homes in Alexandria and the surrounding areas of Northern Virginia for the last four decades and we would love the opportunity to help you too. Whether you are buying your first dream home or next we will take the time to answer all your questions and always give you the best advice available so that you can make your dream home a reality.

Email or Call us today for a free no obligation, no pressure consultation.

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