George Mason University’s Center for Regional Analysis just completed their report, and this report shows that our beautiful county will soon face a housing shortage. This is based on Loudoun Counties projections, which they provided to Metropolitan Washington Council of Governments.
The chart shows that in the year 2020, we will have a 4,000 home deficit based on the single-family home category. This number continues to grow and in the year 2040 it is showing that there will be a deficit of over 19,000 in homes!
If the findings of this report are true, what does this mean for our local real estate market? This is great news as a seller, as we will continue to see property values increase over the next 20+ years. It also is good for the buyers looking for a home, because after you make a purchase, you should see a steady increase! When the demand is high and supply is low, that prices go up. This is also why we see Loudoun County as one of the top destinations for both national and local builders!
You can read more about the findings of this study The Loudoun Tribune. Ryan Butler wrote a great article about this! http://www.loudountribune.com/report-says-loudoun-facing-major-housing-shortage/