This spring, when Travis Slocum and his partner contemplated selling their home in Washington, D.C., they had high hopes of upgrading to a larger place. After all, in recent months, nationwide news has underscored falling home prices and historically low mortgage rates, both boons for would-be home buyers.
But Slocum found the selection disappointing. “We really didn’t find anything on the market that ‘wowed’ us,” he said. “[Some] might have had more space, but they weren’t as updated, or they were well out of our price range.”