Inventory is still tight across the Northern Virginia homes market, which could make the current challenging environment for buyers doubly so as the spring buying season kicks in.
“With 46 percent fewer active listings in January compared to last year, sellers are still holding all of the cards,” said Heather Embrey, president-elect of the Northern Virginia Association of Realtors, in parsing new sales data for January.
A total of 1,172 properties went to closing the first month of the year. While down 14 percent from January 2021, that is something of an apples-to-oranges comparison, since the local real-estate market was on a tear at the start of last year owing to pent-up buyer demand that had been stifled during the earliest stages of COVID.
Comparing 2022 to pre-COVID Januaries, sales figures are in line with…