D.C. housing market inventory rises 56% year-over-year

The D.C. housing market is experiencing a significant increase in active listings, up 56% compared to last year. This rise follows federal layoffs and funding cuts, which have affected home searches in the area. New listings have increased by 24% year-over-year, but overall inventory growth is due to both new listings and reduced buyer activity. The D.C. area has seen a surge 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 is seeing more smaller or lower-end homes available compared to last year.