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Housing Market Update: Are Prices Finding a Bottom? And Housing Bleg:

Tolls Brothers builders last week reported that the D.C.-area housing market, which was the first to collapse, seems to be finding a bottom; my wife and I have noticed that houses in Arlington suddenly seem to be selling, at least if they are priced right; and data from the MRIS shows sales in Northern Virginia picking up, although there are still fewer sales than there are new homes coming on the market.

Does this mean that prices, at least in the D.C. area, are near a nominal bottom? Or is this just, as true housing bears suspect, the calm before the storm (aided by a sudden dip in interest rates), just before the market gets flooded with new inventory in Spring 2007? We shall see.

Speaking of the sudden increase in sales, I was all set to rent a single family house walking distance to the Ballson metro, but the day I was going to sign the lease, the owner got an acceptable offer to sell and took it. The house had been on the market for months, but of course a buyer decided to put an offer in just when I was about to sign a lease. We have some other options, but it can't hurt to ask: if any readers know of a three bedroom townohouse or single-family house for rent, walking distance to an Orange line or close-in red line metro, six months to a year lease, looking for very responsible tenants, you can email me at deliot at sign aol dot com

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