Many of us in the Northern Virginia area feel blessed since we missed the rain or any impact of the weather from either of the hurricanes (Irma or Harvey).
However, major catastrophic impact around the country does not impact locally in terms of weather but it does impact on our local real estate market.
And you may be wondering how?
In the Northern Virginia since the first hurricane impact, we have seen a dramatic shortage of labor market. Many of our construction or skilled labor are driving down to impacted areas to earn $$$$ more than they would be working in the local market. This has lead to some new construction housing market delays in our Fairfax & Loudoun County. Apart from new construction, this has impacted our local remodeling businesses equally. I personally know a friend whose contractor delayed their project due to his subcontractors going down to hurricane impacted region.
Even though this may be a short-term impact but the dominion does affect the delay in delivery of the homes to remodeling the home that was going to be on the market in near future.
Again, I am thankful and praying for people who were impacted by the hurricanes.