D.C. housing inventory rises 56% due to layoffs

The Washington, D.C. housing market is experiencing a significant increase in home inventory, with active listings up 56% compared to last year. This rise follows federal layoffs and funding cuts, impacting buyer activity. New listings have increased by 24% year over year, but overall inventory growth is mainly due to slowing buyer interest. The D.C. area has also seen a rise in newly built condominiums and townhomes. Median list prices in the D.C. metro area have decreased by 1.6% year over year. Nationally, median prices are down 0.2%, but the market shows a shift towards smaller or lower-end homes.