Our new Host CoStar Group welcomed Members and Guests to their offices for this month’s meeting. 

The discussion of the coronavirus and its impact on the industry was a mixed bag of responses. Some Members indicated that the virus has not affected their business as of now, while others are seeing a slowdown, decrease in travel and are anticipating a possible cancellation of events as well as more telecommuting. 

Richelle Wilson and Nicholas Mills with CoStar gave an informative presentation on the State of the Apartment Market in DC.  There is no slowdown in Apartment construction as DC is one of the strongest markets in the nation boasting a 6% vacancy rate.  However, Washington DC is not building affordable housing, since 2015 20,00 luxury units vs. 2,000 affordable housing units have been built.