D.C.-Area Real Estate Leans Back Toward Boom - NBC4 Washington

D.C.-Area Real Estate Leans Back Toward Boom



    From Bust to Boom

    As the national economy is picking up, so is real estate development in the Washington area. (Published Wednesday, Jan. 5, 2011)

    According to a new national job report, the nation created almost 300,000 jobs last month, a sign that the national economy is getting better.

    In the Washington area, the recession slowed commercial real estate, but the industry is showing strong signs of life again.

    Not surprisingly, federal government spending is helping the economy in the D.C. area, said Washington Business Journal Doug Freeling.

    This region has worldwide attention, said Ernie Jarvis, the managing director of CB Richard Ellis's Washington office.

    Statistics from CB Richard Ellis and other real estate developers show dramatic increases in sales, higher prices and lower vacancy rates in the region.