Low Unemployment Rates Boost Housing Sales in Alexandria, VA

In a USA Today article, Christine Dugas writes that low unemployment rates are boosting housing sales in Alexandria, VA and concerns about gas prices and gridlock traffic have sparked interest in city living.

“Workers can rely on four Metro stations within Alexandria’s city limits  to ride trains to work  . . . . and many Washington, DC employers subsidize Metro passes.”

John McClain, senior fellow at the Center for Regional Analysis, George Mason University, noted that the Washington, DC metro area has the lowest unemployment among the country’s top 15 metropolitan areas. That figure has Alexandria experiencing only a 5.0% drop in housing sales in the past year while the U.S. average is 14.8% and the average for the commonwealth is 20.%.

Condominium sales are holding up better that single-family home and are seen as an affordable alternative for first time buyers.  In fact, condominium sales were up 4% in December from a year ago.

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Michael