According to realtor.com, the supply of houses across the country always moves ahead of the busy spring market, but the Washington, DC, Metropolitan region is seeing an external growth.
Inventory benefits in the region, including the district in the district as well as Maryland and Virginia suburbs, began to accelerate 35.9% and 41% years respectively in January and February. Inventory in the area from June to December was already 20% to 30% more than the previous year, but has increased even more in recent months.
As of last week, the active listing was 56% compared to the same week a year ago.
“The period of adjustment after federal trimming and funding cuts has probably hold some Washington DC home discoveries, for both whose jobs have been directly affected and those who are ahead may be worried about those who are ahead, and indicate data on these challenges,” Daniel Hell, Realtore.com’s Chief Economics is written in a reality.
According to realtor.com, active listing at the national level was 28% above the national level compared to the same week in 2024, with a decline in mortgage rates. According to the mortgage news daily, the average rate on the popular 30-year fixed loan was around 7.25% in mid-January, but rose to 6.82% continuously.
This photo taken on 14 February 2023 shows a house for sale in Washington, DC
Aaron Shwartz | Xinhua News Agency | Getty images
Inventory benefits in DC sector are not due to keeping their homes in the market. The new listing increased, but much less than the overall inventory, so the increase in overall supply is a combination of slowing down new listing and buyer activity.
Realtor.com found that the new listing was 24% higher last week last week, for sale and the average days on the market. The new listing to do year-on-year is 11.9% above the year-first level, but is still 12.8% below where they were in 2022, according to Hale.
Now the inventory can also have an external collision due to the newly constructed condominium and townhom coming in the market. Construction in the DC sector has been very active over the years. The part of the new construction listing is much more tilted towards condos than five years ago.
As prices, the average list price in the DC Metro sector was 1.6% less last week. For reference, in the fourth quarter of the previous year, that average list value was 1.5% annually.
As of the previous week, the average list value at the national level was 0.2%below, although it is a huge slant for sale for sale. Controlled to the size of the house, an average list of per square foot increased by 1.2% annually, which means that there are more small or lower-end houses on the market than last year.
“While DC has the largest stake of federal workers in the country, other high -federally employed markets can see similar changes in the coming weeks or months,” Hale said. “While I hope many households will opt for living in the field and pive to find new job opportunities, some possibly leaving and retiring or finding a job elsewhere.”
