February Total Sales in Northern Virginia Decrease for the 1st time in 9 years.

Here's a chart I created recently to show the market increases in February over the past ten years.

You'll see that Northern Virginia has experienced an increase in sales volume increase in 8 of the past ten years. While this is an overall look at the market, you should brace yourself for a dip in sales volume and average sales prices.

Do not exclude the real estate market from natural price corrections. Investing in a home is considered a wise investment over extended periods of time. If you have time on your hand, you can wait out any dip and arrive on the other side in a lovely position.

My suggestion, buy because you have plans of keeping the property for the next seven years.

Renting isn't a bad option. Ask the people who purchase homes during the last market run-up. Some of those individuals are finally breaking even 10 - 12 years later.

Good luck with your search.

Update us on what you choose.

Onward,

AW

Disclaimer: For this report, Northern Virginia equals the 50+ zip codes encompassing Fairfax County, Fairfax City, Falls Church City, Arlington, Alexandria City.

Mandatory State Disclosure located in my City-Data Profile.