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Washington, D.C. Sees Record 25.1% Surge in Housing Inventory Amid Federal Layoffs by Elon Musk's DOGE

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Updated May 9, 2025, 05:16 AM

Active home listings in Washington, D.C. have surged by 25.1% year over year, the largest increase on record, driven by federal layoffs. This jump in inventory significantly outpaces the national increase of 14.2%, according to new data from Redfin. New listings in the D.C. area also saw a significant increase, climbing 11.4% year over year, nearly double the national gain of 5.8%. The Washington, D.C. housing market remains hotter than the national average, with homes selling faster and prices rising more sharply. The median home sale price in the area increased by 4.1% year over year to $600,964, compared to a national rise of 1.9% to $387,855. The surge in listings comes as the local economy faces challenges due to ongoing federal job cuts initiated by the Department of Government Efficiency, led by Elon Musk. Since President Donald Trump took office, at least 121,000 federal workers have been affected by layoffs or targeted for layoffs, impacting the region's employment landscape. Federal jobs account for 11.1% of all employment in Washington, D.C., and initial unemployment claims peaked in February.

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