“National real estate figures only recently have started to creep back up from the recession that began in 2008, but Washington’s high-end real estate market has been bullish for years, and local experts project that it will remain strong in 2013.”
Several factors are contributing to this luxury home boom. Foremost, many buyers see the area’s stable real estate market as a safer way to protect their wealth than the stock market. “We maintained our values better than any other city [throughout the recession]. People are starting to see real estate bottom out,” explains Kimberly Casey, an associate broker with Washington Fine Properties.