Amazon Turns Northern Virginia Into Country’s Most Competitive Home Market
- Arlington, Alexandria homes get snapped up within two weeks
- ‘Amazon effect’ leads to supply shortage, Redfin study shows
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Even before Amazon.com Inc. completes its northern Virginia office hub, the e-commerce giant has helped make the area the most competitive housing market in the U.S.
It’s hardest for buyers to win a home in Alexandria and Arlington, cities near Washington’s Reagan National Airport and close to where Amazon is building its East Coast headquarters, according to a study by Redfin Corp. The brokerage’s analysis factored in bidding wars, waived contingencies, above-list-price offers and how fast properties went under contract.