Supply Side: DC-Area Housing Inventory Rises to 2019 Levels
For years, the lack of homes for sale was a primary theme in the DC area housing market. That is changing.
The inventory of homes for sale in the region is steadily increasing, up 43% compared to a year ago and approaching levels not seen since 2019.
"Supply is still very low in the DC area housing market, but in some local markets, buyers are finding more options than they have had in more than three years," Bright MLS wrote in its January report.
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In DC proper, supply is up 56%, but in some areas, the increase has been more substantial. For example, in Montgomery County, supply is up 87%, while in Prince George's County, it has risen nearly 107%.
The increase in supply is a little imbalanced when it comes to property type. In many markets, the condo inventory is more than double what is what prior to the pandemic. In contrast, the supply of single-family detached homes in the area is less than half of what it was three years ago.
See other articles related to: dc area housing supply, dc housing inventory, dc housing market, dc housing market trends
This article originally published at https://dc.urbanturf.com/articles/blog/supply_side_dc-area_housing_inventory_rises_to_2019_levels/20633.
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