Home Prices In Some Virginia Suburbs Have Shot Up $100,000 Thanks To Amazon

(CBS News) — Amazon’s Virginia headquarters is years away from becoming a reality, but it’s already driving up housing prices. That’s the conclusion of real-estate brokerage Redfin, which found local residents anxious to buy and sellers reluctant to sell as they expect the ecommerce company’s “HQ2” hub to further push up real estate costs.

The northern Virginia cities of Alexandria and Arlington are now the two most competitive housing markets in the country, respectively, according to a Redfin report. Arlington’s Crystal City neighborhood, directly across the river from Washington, D.C., is the intended site of Amazon’s second headquarters, which will eventually employ some 25,000 people. Alexandria borders Crystal City to the south.

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