Headlines: Millennials make their way into mortgage market; more on fate of pop-ups in DC
Here’s a look at what’s happening in real estate in the District of Columbia and beyond.
Statistical measures and anecdotal reports suggest that young couples and singles in their late 20s and early 30s have begun making a belated entry into the home-buying market, pushed by mortgage rates in the mid-3-percent range, government efforts to ease credit requirements and deep frustrations at having to pay rising rents without creating equity. -Washington Post
With mortgage rates as low as they’ve been in more than a year, refinancing is becoming a cost-saving option for many homeowners. -Urban Turf
In response to citizen concerns, the D.C. Zoning Commission is considering an amendment in selected R-4 zones (single-family-attached dwellings) to reduce allowable building height and permit no more than two units per row house lot. This is essentially a neighborhood preservation initiative. -Washington Post
With all the hubbub over pop-ups and new development, population growth and the changing landscape of the city, Washingtonians should get straight on this one. The truth is a little more complicated and perhaps a little less romantic that the myth. -Urban Scrawl
The construction of a 41-unit condo building at 1500 Pennsylvania Avenue SE, in Hill East, will begin in April. The four-story residential building with parking garage will be finished by the end of 2015. -Elevation Media