Inventory in DC continues to be extraordinarily low. There is merely a 1.5-month supply across the region in all price ranges, and it is even lower in the DC $1-2m range.
As far as interest rates, yes, we’ve seen the highest increase in a short amount of time, but we must remember this isn’t permanent. We are recommending our clients use the ARM products where you can still get a rate around 4%, which is a historically low number.