inman – excerpt
Since the retail giant announced plans to build an HQ2 office in Arlington County, Virginia, home prices have grown 32.9 percent year-over-year. Meanwhile, active listings are down 49 percent.
Last fall, Amazon changed Virginia forever when it announced its decision to locate a much-hyped HQ2 office facility in the state’s Arlington County.
And now, exactly one year later to the day, the impacts of that announcement on the area’s real estate have come into focus: There are inventory shortages, skyrocketing prices and “a blistering pace of sales.”
That’s the verdict of a new report, released Wednesday, from realtor.com. The report ultimately concludes that Amazon’s announcement had an “immediate effect” on the area’s housing market, and that “the aftermath has been felt throughout the area since then.”… (more)