Ask any real estate agent what their slow time time of year is and they’ll tell you it’s always the winter. But this year, winter is coming early — at least in terms of home prices.
According to new data from Clear Capital, home prices in the southern region (which includes D.C., Maryland and Virginia) fell by 0.2 percent from July through September when compared to the previous three months (also the peak of buying season). The report states the “slowdown appears to mark an early onset of the typically weaker markets of fall and winter.”
However, there are two silver linings: 1. The D.C. core (the District, Arlington and Alexandria) fared better and is among the strongest markets in the nation — home prices there increased last quarter by 3.9 percent. And 2. Home prices in both the core market and the D.C./Md./Va. area increased over this time period last year.
Of course, on the flip side, if you’re in the market — now’s the time to buy. Nothing brings down a home’s appeal like fewer buyers on the market and landscaping that’s past its summer peak.
