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Amazon’s Second Headquarters Will Impact Virginia’s Housing Market

Following Amazon’s announcement that Arlington, VA will split duties with New York City to house their second headquarters, Virginia REALTORS® is preparing to begin working with state and local policy makers to ensure the housing needs of Amazon’s future employees—estimated at more than 25,000—will be met.

“We are very excited to welcome Amazon to Virginia. These types of moves can be transformative for the Commonwealth and her localities, and we look forward to working with state and local lawmakers to help provide insight and resources to assist in this exciting transformation,” says Virginia REALTORS® 2018 President Jay Mitchell.

Hiring will begin in the coming year, so housing will be in immediate demand. Lisa Sturtevant, Chief Economist for Virginia REALTORS® says, “With more than 25,000 workers added to the Virginia economy, there will be significant demand for housing in the greater national capital and outlying regions. It is important for the public and private sectors to work together to ensure there is an adequate supply of available and affordable housing for both new workers and existing residents.”

As the state’s largest professional trade association, Virginia REALTORS® is also preparing to offer insight and analysis on this type of economic impact. Beckwith Bolle, incoming 2019 President of Virginia REALTORS®, lives and works in Northern Virginia. “This is an exciting announcement for REALTORS® in and around Northern and North Central Virginia,” she says. “Our association will work with policy makers to help support economic growth and vibrant communities.”

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