The Washington D.C., Northern Virginia Market Driven by Government

Author:	Lucas Jones
Source:	Homes Discovered
Date:	April 6, 2006

The real estate market in the Washington D.C. area is stronger than ever due in part to a strong economy and new job holders.  Commercial rents are up and vacancies are down.  Tenants are signing on for more space as employers need more room for their new hires. Speculating that the boom will continue, developers persist on building rapidly. The largest projects are campuses for federal agencies.  Federal spending continues to drive much of the growth.  Prices are being bid up in real estate negotiations because there is much more money in the area than there is property. The break-neck pace of growth in the Washington D.C. area is likely to slow somewhat as overbuilding is likely to happen.

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