DC home listings up nearly 47 percent

WASHINGTON - The D.C. housing market is hot. Amid a shakeup in the federal government, there are more listings in the metro area and that's good news for anyone looking to buy.

By the numbers:

Compared to this time last year, the number of active listings in the D.C. region is up nearly 47 percent.

"Inventory has just been so tight here in the Washington area, more inventory coming onto the market is a good thing for the market. Even with this increase in new listing activity, we're still at a level below where we were prior to the pandemic," Bright MLS Chief Economist Lisa Sturtevant said. 

Sturtevant has been tracking the data and told FOX 5 in March alone there were just shy of 5,000 new pending contracts in the D.C. area.

Ultimately, this could explain why ‘for sale’ signs are popping up in neighborhoods in the District and surrounding areas.

What they're saying:

By many accounts, the abundant home inventory is being fueled by impacted federal workers listing their homes for sale. For buyers, this could be a good thing. 

"Developers are buying these homes because they’re reasonably priced and they develop them, put a third story on and away they go," said Robin Roth, who lives in northwest D.C. 

Even so, we spoke with residents who remain optimistic .

"I remain very optimistic about the downtown, very bullish about the future of the District of Columbia. We have laid out a plan, we’ve continued to attract partners and continue to make investments," D.C. Mayor Muriel Bowser said.