Government shut down effects on northern Virginia market

In the 2000’s this is about the fourth shutdown of the federal government. It has an effect on the northern Virginia real estate market but not as much as you might imagine.

We have about 81,000 federal employees. That does not include the contractors who do a lot of the work on the federal contracts.

During the last two shut downs in 2012 and 2018, the number of listings and sales and contracts written did not really deviate much from the year before.

Less than 1% less contracts being written and fewer listings being put on the market.

The shut down seems to have a more of a psychological effect and a disruption in employment for the future, but it doesn’t really affect the market.

Employees will be made whole with lost wages, returned to them once the government opens up again. So on the short term, they have to budget really tight and some will delay either moving into a new home or selling the one they’re in.

1 comment

Broker 911 Network

skool.com/broker911

Our mission is simple: to transform agents from uncertain and under-producing into confident, client-focused professionals who lead with excellence.

Leaderboard (30-day)