Being the capital of United States, Washington DC is abuzz with activities, especially in the business sector. While many regions in the U.S. are still recovering or even struggling from the huge influence of the recent global financial crisis, this area has recovered ahead of the others.
The Metropolitan Regional Information Systems (MRIS) reports that prices in the home market experienced a rise in the second quarter of this year compared to the first quarter. The increase was also an improvement by 4.2 percent from the same period in 2009. In terms of property sales, the Washington DC area had a 60.6 percent increase also in the second quarter when compared to the first quarter 2010.You can know more about DC real estate via http://metrohomesadvantage.com/.
One of the major factors that boost the local economy and the real estate industry is the availability of various jobs and this alone already makes the district an attraction to expert. Latest reports reveal that Washington DC has made possible the opening of high-paying jobs.
But this high demand for housing is not much of a problem as inventory is also high at the moment. As of June 2010, the inventory of homes for sale in Washington DC was at an average of 4.5 months.
Those wanting to buy homes have many choices as to the areas in Washington DC. Buyers who have more than enough funds can go for the main district, Arlington, and Alexandria where prices of homes remain to be at a high level.
Those on a budget and looking for more affordable properties can choose the suburbs in Prince William, Loudoun and Frederick counties. These areas saw a sharp decrease in foreclosure prices since 2006 until 2008.