Washington, DC sees spike in homes for sale amid DOGE federal worker layoffs
CNN
The number of Washington, DC area homeowners who decided to list their homes for sale jumped last month amid steep cuts to the federal workforce.
The number of Washington, DC area homeowners who decided to list their homes for sale jumped last month amid steep cuts to the federal workforce. In the four weeks ending April 27, the number of active home listings in the nation’s capital surged 25.1% year-over-year, the largest gain on record, according to a new report from real estate website Redfin. The jump in DC homes for sale outpaced active listings nationwide, which grew 14.2% in that same period, Redfin said. Active listings in DC are now at their highest level since 2022, according to the report. The uptick in new homes for sale in DC comes amid steep layoffs in the federal workforce, driven by Elon Musk’s Department of Government Efficiency (DOGE), which has slashed federal funding and jobs in an attempt to reduce government spending. Redfin found that active listings are rising fastest in the suburbs of DC, where many federal workers live. Homes for sale in Alexandria, Virginia, jumped nearly 41% year-over-year during the four weeks ending April 27, the largest increase of the surrounding counties Redfin analyzed. Montgomery County, Maryland, saw new home listings surge 38.5%, and Loudoun County, Virginia, also saw a surge of 36.8%. Real estate agents in the DC area told CNN the housing market is still relatively tight, though, despite the high number of recent home listings.
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