If you are following what is happening in the Washington metro area you are not alone. My main purpose is to keep those that are interested informed as best I can. As I like to say “my crystal ball is cracked right now!”
Northern Virginia’s outlook is a “mixed bag” it is similar to the national 2025 housing forecast. The forecast is, the worst of the housing inventory shortage is ending, mortgage rates are stabilizing, and job additions are continuing.
“In Loudoun County, the median sold price for a single family detached home was almost a million dollars in 2024 and that is up more than 50% in five years”. “If you bought in the last five years, or even before that, you are sitting in a very, very good situation.
The Northern Virginia region continues to demonstrate its resilience,” said NVAR CEO Ryan McLaughlin. “Price growth is a clear indicator that our area remains a highly desirable place to live. Even with evolving market conditions, buyers are showing strong confidence in the long-term value of homeownership here.”
If you are looking to BUY a house you may want to wait until 2026. Home SELLERS would probably be wise to sell before 2026. Likewise, if you are looking to downsize, it would be to your economic advantage to do it sooner rather than later. The reason, of course, is the outsized impact of the baby boomer generation.
If you’re looking for a significant interest rate drop in 2025, you’ll likely be left waiting. The latest news from the Federal Reserve and other key economic data point toward steady mortgage rates on par with what we see today.