New Listings, Lower Prices And Those Rates: The Charts That Define The Spring Market in DC

• March 20th

by UrbanTurf Staff

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With the official beginning of spring, UrbanTurf is taking a look at what we think will be the three most important metrics to watch in the DC-area housing market in the coming months. 

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In February, the fewest number of new listings hit the market for the month in over 20 years. While March and April are usually the time of the year that we see an influx of new listings in the region, it will be critical that buyers, already facing a variety of headwinds, have more to choose from to help bolster the spring market. 

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As new listings fell to begin the year, home prices in the DC region hit an all-time February high of $610,000, up 3% year-over-year and 40% higher than 2020. The good news for buyers is that price appreciation in the region is slowing; the bad news is that prices have risen so much in recent years that they still might be out of reach for buyers even if they were to fall in the coming months. 

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30-year mortgage rates have gradually eased from the elevated levels that defined much of 2024 and early 2025. A year ago, the 30-year fixed-rate mortgage averaged 6.65%, and now it sits at 6.22%. While lower, that is 22 basis points higher than the 6% territory of just a few weeks ago. And the Iran war and rising inflation could send those in the wrong direction in the coming weeks. 

This article originally published at https://dc.urbanturf.com/articles/blog/new_listings_lower_prices_the_3_charts_that_will_define_the_spring_market_i/24428.