Click the video link to listen to Kim Barber share insights into the July 2020 Loudoun County Real Estate Market. This covers the areas ranging from Sterling real estate market, Ashburn and
Stable Growth for Real Estate Expected for 2015 through 2017
Dated: August 1 2015
- Single family housing sector has had positive growth for the third year straight in 2014 and starts are projected to increase from 647,400 units last year to 700,000 in 2015; 815,000 next year, up to 900,000 units in 2017. Though still below the 20-year average.
- Home prices increased by 5.4% in 2014 and are expected to be at 5.0% in 2015, and 4.0% in 2016-2017.
- Commercial property transactions are expected to increase for another two years and level off at a strong $500 billion in 2017.
- Demand for real estate, especially for office and apartments will remain strong. Apartments will show consistent rental rate growth above the 20-year average of 2.6%. This year, rent is expected to rise by 3.5%, 3.0% in 2016, and 2.7% in 2017.
- Decline in unemployment rate at 5.3% by the end of 2015, 5.0% for 2016, and 5% for 2017. Net job growth is expected to be 2.9 million per year compared to a long term average of 1.2 million.
- Increasing treasury rates will also increase borrowing costs for real estate investors. However, the respondents do not anticipate it to considerably affect real estate capitalization rates for investments.
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