Growth slowing, inventories and foreclosures up...

The housing market is most certainly in a very "cooling off" pattern in Northern Virginia, according to all indicators. Reprinted from the Washington Post:

The galloping growth of Washington’s outer Virginia suburbs is slowing at last, according to Census Bureau estimates to be released today, with high housing costs beginning to dull the appeal of counties that have long been a magnet for newcomers.

Loudoun, the nation’s second-fastest-growing county in 2005, dropped to fourth place largely because only 7,506 people moved in during 2006, compared with 12,002 the previous year.

Fairfax’s growth rate also declined, but for a different reason: Ever more residents are moving out of the county.

The shift brings Northern Virginia in line with the District and Maryland, where Montgomery County’s growth rate continued to slow and growth in two other counties — Anne Arundel and Prince George’s — stagnated in 2006.

“There’s still growth in the Washington region, and there’s still migration from the inside of the doughnut to the periphery. But it’s kind of slacking,” said William H. Frey, a demographer at the Brookings Institution. “From being a very fast-growing exurban place, Washington has now come down to more normal levels.”

All this leads to expectations of a very good Spring Buyer's season, and a continuing difficult Seller's market - all the more reason to examine every type of advertising, deal, selling style and outlet available to move your home, if not actually renting it....call for more ideas!