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The key issue of Northern Virginia’s 2024 real-estate market could be the same as that of 2023 and 2022 before it – a lack of inventory that will bedeviled prospective purchasers.

“How low can it go? We expect inventories are going to get even tighter. Maybe another 20, 25 percent,” said Terry Clower, director of the George Mason University Center for Regional Analysis, during a 2024 real-estate preview hosted Dec. 13 by the Northern Virginia Association of Realtors.


News

Northern Virginia’s five largest jurisdictions in November mostly posted relatively small drop-offs in sales from a year before, according to new data.

But that in part is a reflection of the weakness of the market for more than a year now, with buyers willing but sometimes unable to pay the high costs coupled with high interest rates, even if they are able to find a home in the current tight-inventory market.


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