Washington, D.C. Voted as a Top 10 Metro for 2009

Market Snapshot: Washington, D.C. Voted as a Top 10 Metro for 2009
Published: December 04, 2008

By Teresa O’Dea Hein, Managing Editor

A change in presidential administrations is always good for the real estate market in the nation’s capital, which was relatively strong already, points out Greg Willett, vice president for research and analysis at M/PF YieldStar Inc., based in Carrollton, Texas.

Both M/PF YieldStar and The Urban Land Institute (ULI) ranked Washington, D.C. as one of their top metros for 2009. ULI’s 2009 “Emerging Trends in Real Estate” ranked Washington, D.C. in the number-three slot. ULI particularly values a metro’s 24-hour fundamentals and access to major airports.

Already, Washington, D.C. is the healthiest of the nation’s very active apartment construction centers, adds Willett, “and it looks likely to remain that way.” Ongoing development at the start of 2008’s fourth quarter was about 10,400 units, with a sizable block of that comprised of properties that began construction as condos but now will complete as apartments.

Source: Multi-Housing News. View Article.

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