The D.C.-area housing market typically hits its crescendo in the summer as buyers rush to secure homes before school starts in the fall.
Instead, this summer the market appears to have hit a proverbial wall.
The number of home sales in D.C. and Montgomery County in June fell 21% year-over-year, according to information from the Greater Capital Area Association of Realtors, which recorded 2,241 sales in those two jurisdictions. The Northern Virginia Association of Realtors recorded an even more drastic drop in June of nearly 25%, with 2,245 homes sold. In Prince George’s, the number of homes sold fell 23.5% to 558 year-over-year, according to the Prince George’s County Association of Realtors.
