The D.C. Metro real estate market continued its resurgence this month. With the area unemployment rate (9.2% for May) under the national average and interest rates at record lows (ending June at 3.13%), new pending homes sales had their best June in a decade. Limited inventory and strong buyer demand kept median sales prices high, as the region saw a new ten-year best for single-family and townhome median sale prices.

Sellers showed signs of confidence as new listing volume extended month over month gains and year over declines narrowed. Yet, inventory levels remained tight as months of supply saw a June ten-year low.
 
 

About the DC Metro Housing Market Update

The DC Metro Area Housing Market Update provides unique insights into the state of the current housing market by measuring the number of new pending sales, trends by home characteristics and key indicators through the most recent month compiled directly from Multiple Listing Service (MLS) data in ShowingTime's proprietary database. The DC Metro Area housing market includes Washington, D.C., Montgomery County, and Prince George's County in Maryland, and Alexandria City, Arlington City, Fairfax County, Fairfax City, and Falls Church City in Virginia. Data provided by MarketStats by ShowingTime, based on listing activity from Bright MLS.
 

About Bright MLS

The Bright MLS real estate service area spans 40,000 square miles throughout the Mid-Antarctic region, including Delaware, Maryland, New Jersey, Pennsylvania, Virginia, Washington, D.C., and West Virginia. As a leading Multiple Listing Service (MLS), Bright serves approximately 95,000 real estate professionals who in turn serve over 20 million consumers. For more information, please visit www.brightmls.com.
 
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