DC most desired US destination, study says
There are many reasons to love living in the District - the strong economy, the improving schools and the booming art and tech scenes are just a few. In fact, the nation's capital is doing such a good job of making its residents happy that even residents of other regions are considering buying one of the homes for sale in Washington, DC, to take part in the city's bustling culture.
According to a recent study conducted by United Van Lines, the District is once again the most popular moving destination this summer. To arrive at the conclusion, the source analyzed domestic moves between May 1 and August 31 2012 - a total of 44,900 interstate moves - to see what could be found about migration patterns.
What the company discovered is that once again, singles, couples and families are flocking to the metro to start a new life. The swelling influx of residents could be an indication the city is fully recovered from the housing crisis of the late 2000s and that it might be a good time to consider purchasing real estate in Washington, DC.
In recent months, the unemployment rate has dropped, house values have climbed and home sales have spiked in the District. Furthermore, with the District's glut of nationally renowned universities, thousands of new, young residents have streamed into the city in the last few weeks.
Unsurprisingly, this surge of new residents has affected not only the housing market, but the rental market as well. In fact, when a real estate analytics firm recently tracked the most searched-for neighborhoods in the country among potential renters, it found that three famous DC areas made the cut - Dupont Circle, Georgetown and Adams Morgan.
Due to their proximity to local universities and nightlife oases, these neighborhoods have become heavily sought-after living locations. Unsurprisingly, these areas have been seeing their average rents rise as demand increases. With home values rising, now may be a good time to buy property instead of renting in these increasingly pricey enclaves.
Between the rising rents and United Van Lines' recent study, one thing is clear - DC is clearly one of the most desirable places in the country to live. Acting fast to find the right home in the area could help you experience this national jewel and leave you with a valuable property investment down the road.