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Question: How was the real estate market in the Fairfax County portions of Alexandria for the first half of 2022?

Answer: Earlier this month, we took an in-depth look at contract activity in the City of Alexandria for the first half of the year compared to the same months of the previous year. (Read more here.)

This week’s Q&A column is sponsored and written by Hope Peele of The Peele Group and McEnearney Associates Realtors®, the leading real estate firm in Alexandria. To learn more about this article and relevant Alexandria market news, contact The Peele Group at 703-244-6115 or email [email protected]. You may also submit your questions to McEnearney Associates via email for response in future columns.

Question: How have the interest rate hikes affected the real estate market for buyers?

Question: How was the real estate market in the City of Alexandria for the first half of 2022?

Answer: At the end of June, we like to take an in-depth look at contract activity in the City of Alexandria for the first half of the year compared to the same months of the previous year. To put contract activity into context for the first half of 2022, we will first look at month-end inventory and the number of new listings coming on the market year-to-date.

Question: How can my mortgage lender help me buy my next house before selling my current one?

Answer: You may have heard the real estate market is starting to slow down. Recent sales data seem to support that notion. You should keep in mind, however, that slowing down does not mean a slow market. It means the frenetic pace at which residential real estate has been sold over the past several years is a little less frenetic now.

Question: In this changing market, is becoming a Realtor still a good idea?

Answer: For many years, and even more so in the last five years, real estate nationwide has been moving at a breakneck pace. Low mortgage rates coupled with low home inventory plus four main generations of buyers (Baby Boomers, Gen X, Millennials, and Gen Z) has meant a lot of people scrambling for their own piece of the American Dream of homeownership. (Source: The Motley Fool)