“The housing market is roaring right now.”
“Home prices climb to record high in pandemic as buyers seek space.”
“2020: the summer of booming home sales.”
As you might have noticed, these are the types of headlines that have been dominating our news feeds across the nation and in Washington, D.C. And without a doubt, this year did mark a sizable shift in home buying needs as consumers adjusted to our “new normal” pandemic reality. Some trends at the forefront of this unprecedented moment in real estate? More emphasis on space—space to spread out, to be outside, and to work from home—as well as the return of suburban allure. In D.C., we experienced a delayed spring market that ramped up in June and only started showing signs of slowing toward the end of August. During this timeframe, multiple offers were prevalent for homes of many shapes and sizes—from the attached townhouse downtown to the detached single-family home in the suburbs. In short, the news of our increasingly competitive landscape was spot on—at least in some areas of the market throughout this time….