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Amazon's HQ2 Boosts Northern Virginia Housing, Cools NYC

As U.S. Banks Shut Branches, JPMorgan Leads Shift Toward Wealthy
Photographer: Andrew Harrer/Bloomberg

Home sales in both Manhattan and Arlington, Virginia jumped after Amazon.com Inc. selected the two sites for its second headquarters. However, the Manhattan market cooled after Amazon dropped the city from the list, according to a report from realtor.com.

Listing prices in Arlington increased 17.3% from the time of Amazon’s November announcement through April. Prices in Manhattan grew 2.4% for the same time period. Arlington has also seen a larger drop in home inventory than Manhattan suggesting there is not enough supply to keep up with the demand.