Most people in the D.C. region probably know someone affected by cuts to the federal workforce and government spending, or might be concerned they will be. The same goes for area real estate agents.
Listing service Bright MLS reports almost 40% of buyer and seller agents in the D.C. region worked with clients in May whose decisions were driven by federal government layoffs and cuts. And over half agents surveyed report that federal workforce reductions are impacting market activity.
The housing market in the D.C. area, long known for its stability, is now facing a wave of inventory driven by both uncertainty and early retirements among federal employees, according to Bright MLS’ survey.
It said the trend is putting downward pressure on prices, and could signal a broader reshaping of homeownership patterns in the area.
Click here to read the rest of the article written by Jeff Clabaugh over at WTOP
