DC's housing market is cooling – but don't point to a recession just yet
WASHINGTON -- The growth of D.C.’s home values has slowed to its lowest level since early 2016 – mirroring a national trend across the country’s 50 largest metros.
According to July housing numbers published by the real estate firm Zillow, median home values grew 2.1 percent year-over-year, compared to 3.8 percent at this time in 2017.
The U.S. as a whole is seeing a similar trend, with home value growth falling nationwide for seven straight months to their lowest levels since October 2015.
D.C. has also seen 10 straight months of decline in its inventory of homes on the market, with roughly 2,000 fewer homes listed than in July 2017.
The combination of declining home value growths and declining inventory could potentially be a cause for alarm – particularly following this week’s invert ...