40% Of DC-Area Realtors Worked With Clients Affected By DOGE, Per Report

• June 24th

by UrbanTurf Staff

✉️ Want to forward this article? Click here.

A report out Tuesday provides a new sense of how cuts to the federal government might be affecting the DC-area housing market. 

Four out of ten realtors surveyed in May said they were working with clients whose real estate decisions were tied to layoffs or federal buyout offers, according to a new Bright MLS report. The survey also found that 15% of home sales in the region this spring were due to retirement, compared to 10% across the mid-Atlantic.

“Federal buyouts provided older, often higher-income homeowners a chance to cash out and relocate, but the ripple effects are just beginning," the report stated. "As more impacted families list homes post-school year, we could see further price pressure across the region this summer and fall.”

While prices hit another record high last month, 38% of the real estate agents surveyed felt that the federal cuts would lead to falling prices. 

“Federal agencies have recently begun rehiring a limited number of laid-off workers, and no new cuts have been announced. However, with buyout payments ending later this summer, more selling activity may still be on the horizon,” Sturtevant said. “By fall, the increase in inventory in the region could lead to flat or falling home prices in some markets in the region.”

This article originally published at https://dc.urbanturf.com/articles/blog/40_of_dc-area_realtors_worked_with_clients_affected_by_doge_cuts_per_report/23629.