The latest housing data from Bright MLS, covering the Washington, D.C. metro area and surrounding communities, shows active listings for the week ending April 6 continuing to "soar," with supply "growing at a rapid pace." This surge comes as DOGE-related layoffs have surpassed 280,000 federal workers, fueling growing fears of a looming D.C. recession.
Here are three key takeaways from MLS's weekly report on the housing markets in Northern Virginia, D.C., and Maryland. The common denominator across all three regions: supply—and a lot of it. Inventory is surging this spring, well above levels seen over the last three years:
New listings are soaring. There were 7,226 new listings for the week ending April 6 in the Bright MLS service area, a 17.0% jump from the same week in 2024. The MD/WV Panhandle and Eastern Maryland regions were the only regions to not have a year-over-year increase in new listings this week.
More sellers are dropping their asking price. Of all active listings during the week in the Mid-Atlantic, 8.8% had a price decrease, which is a full percentage point higher from the same week last year. The share of listings with a price drop has steadily increased over the past seven weeks and sits well above the price cut activity over the past three years.
Supply growing at a rapid pace. There were 35,013 active listings for the week, another uptick from last week by 3.5%. Active listings are now 26.6% higher than the same week last year, soaring well above supply for the last three years. The Washington metro area and the North Central Virginia regions are seeing relatively larger supply gains compared to other Bright MLS metro areas.
A snapshot of MLS's coverage area shows that active listings were up 26.6% for the week ending April 6 compared to the same period last year. Week-over-week, listings rose by 3.5%.
In Washington, DC, active listings were up 44.2% versus the same period one year ago. Week-over-week, listings rose 5.3.%
Visualizing the data...
The weekly snapshot in North Central Virginia also showed a continuation of supply flooding the market. For the week ending April 6, active listings were up 45.7% versus a year ago, and up 5.3% over the prior week.
Visualizing the data...
The surge in housing supply in D.C. and the surrounding areas comes as 280,000 federal workers have been laid off over the past two months due to DOGE-related efforts.
Daily Mail spoke with D.C. residents who warned that people are "afraid of a recession" and have halted "making big purchases."
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