As the amount of available homes decrease throughout the Washington D.C. metro area, the rest of market is seeing an impact. According to the MRIS July Housing Market Updates for the DC Metro and Baltimore, inventory in both metros are falling and pushing prices up. The lack of inventory, though, is putting a damper on the number and volume of sales.
- Sales volume in the D.C. metro fell 4.6 percent annually in July and 18.6 percent monthly.
- New listings in July fell 8.6 percent annually in the D.C. metro and 17 percent over the previous month, which was more dramatic than the annual 2.4 percent dip Baltimore saw.
- Sales volume and median sales price in Baltimore grew in July as inventory fell.