The unseasonably warm weather much of the country has experienced throughout the winter not only made it easy for homeowners to maintain their property, but it may have also prompted an earlier spring buying season this year.
The Washington, D.C. housing market is one such area that saw sales increase during the first two months of 2012. As a result of the high sales rate, the capital's housing inventory had just 16,562 active listings at the end of February.
Active listings into the Beltway has steadily declined since the end of the summer in 2011. In February 2012, there were 5.2 active listings per sale, while there were was a more significant 6.8 per individual sale a year earlier. At the housing market's peak, there were between 15 and 16 listings for every one sale.
Meanwhile, local industry experts told The Washington Post that the rising sales rate coupled with the thinning inventory could cause a substantial hike in property values during the course of 2012, which could make buying in a home for sale in Washington, D.C. a worthwhile investment.
