Why Are there no houses for sale in D.C.?
(The Atlantic) — We’ve been dipping our toes into the DC housing market recently, but after this weekend, I think I’m just about ready to give up. Anything that comes on the market at a decent price is snapped up almost immediately–by my count, mean time from listing to contract is under seven days. The only things that stay on the market long enough to look at fall into one of two categories:
1. The owner bought the house between 2004 and 2007, and wants to get their money back out, hopefully with a little profit . . . and has therefore priced their home at least $100,000 above what the market will bear.
2. The house has been rented, and the tenants, familiar with their copious rights under DC housing law, are essentially refusing to allow the house to be shown.