What does the Washington Metro region’s real estate market have to say about the sequester? After all, the people who work and live here are supposedly going to be hit hardest when the automatic spending cuts begin. If all the hype is sincere, we should expect homebuyers to get cold feet, inventory to grow, houses to languish on the market for longer periods, and prices to plummet. Instead, we have this:
- Home prices in the metro are up 10.7 percent year-over-year.
- Inventory is down about 50 percent year-over-year.
- Average days on market are down 27 percent.