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Sellers Outnumber Buyers By 22% In DC Area, Per Report

  • January 20th

by UrbanTurf Staff

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While the national housing market continues to shift in favor of buyers, the DC region is experiencing a similar trend with sellers outnumbering buyers by a notable margin. 

A new report from Redfin finds that the DC area had approximately 22% more sellers than buyers in the market last month, with an estimated 14,778 buyers versus 18,003 sellers. The buyers market in the area is not quite as pronounced as the country as a whole, where sellers outnumbered buyers by a record 47.1%.

Note: Redfin defines a market where there are over 10% more sellers than buyers as a buyer’s market and a market where there are over 10% fewer sellers than buyers as a seller’s market.

The main reasons for the historic buyer's market are many, but familiar: high home prices combined with high interest rates along with political and economic uncertainty. As rates have dropped recently, we could see more buyers and sellers enter the regional market, however the effect of lower rates could very well be offset by the other aforementioned factors. 

See other articles related to: buyers market

This article originally published at https://dc.urbanturf.com/articles/blog/buyers_outnumber_home_sellers_by_22_in_dc_area_per_report/24232.

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