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Houses in Washington D.C

Founded July 16, 1790, Washington, D.C. is the capital of the United States. The population of Washington D.C. almost doubles in size during the weekdays. This is due to all the individuals who commuted into work from the outlying suburbs of Virginia nad Maryland. The District of Columbia, D.C., is a part of Washington Metropolitan Area. This is the ninth-largest metropolitan area in the country. Washington D.C. is main business hub with materials being shipped in and out from all over the world. Many organizations have their headquarters in Washington D.C. Some of these include the World Bank, the International Monetary Fund (IMF), and Pan American Health Organization (PAHO). Washington D.C. is a very popular area for businesses from around the world.

In 1920, Congress passed a height-restriction act to prevent federal monuments from being overshadowed by commercial construction. This restriction has enabled Washington, D.C. to have a unique quality when compared to the other major U.S. cities. The dominating element in Washington D.C. is not skyscrapers, it is national monuments and open space.

With all of the tourists that come to Washington D.C. everyday, it is a great place for business. With all of the great business, Washington D.C. is the perfect place to purchase a new home. The real estate market is beginning to rebound from the recession. The median price of a home for sale in Washington D.C. was $396,500 for the week ending Sunday, November 8, 2009. This is an increase of 1.2% when compared to the month of October. In the month of August, the demand for houses in Washington D.C. was more than the supply according to Business Week. The market is slowly balancing out, as the supply is now around 6 months. There are areas that are balancing out faster than other areas. Areas such as Alexandria, VA, Arlington, VA, and other inner suburbs are rebounding much better from the recession when compared to distant suburbs, such as Prince William County. The outer suburbs are in horrible shape and will be slow to recover from the recession. Washington D.C. has many federal government and defense contractor jobs so it is expected to rebound early from the recession. If you are rushed to find your perfect a new home in Washington D.C., consider purchasing in the inner suburbs. This market is beginning to rebound so prices will only go up from here. If you would rather live in the outer suburbs, there is some time to consider which home you would like. This market will be slower to rebound. Either area you choose to live in, now is a great time to considering purchasing a home for sale in Washington D.C.

Denny Horner

Denny Horner is a realtor in the Washington D.C. area. Find more of my writing on my blog or my ActiveRain.

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