D.C.’s Rising Home Prices By Neighborhood
People purchasing homes in many D.C. neighborhoods are buying them for more than the asking price, a sign of D.C.’s robust housing market, Washington Business Journal reports. One such neighborhood is Anacostia, where some fear displacement of low-income and black residents.
Increasing home values fuel gentrification. With such a tight housing market, the option to sell becomes enticing to homeowners, particularly those who bought their homes years ago for much lower prices. Longtime homeowners may walk away making money, but neighborhood income diversity could decrease as only wealthier people can afford such home prices.
- Source: Bizjournals
