The number of houses on the Washington, D.C. market this year will increase, but not by as much as previous years. UrbanTurf reported that the listings are also expected to spend less time on the market and have higher prices.
Already, the housing inventory growth has soured. According to new data from RealEstate Business Intelligence, the number of active listings in January 2016 rose 4.1 percent year-over-year, a major difference from 2015's difference to 2014. In January 2015, the year-over-year growth was 17.9 percent, while in January 2014, the year-over-year growth was 11.5 percent.
Elliot Eisenberg of RealEstate Business Intelligence told UrbanTurf that this sharp decline in growth is attributed to historical cycles and sustained buyer demand. He expects the inventory growth to turn negative by mid-year and last for 18 months.
· Why DC's Housing Inventory Growth Will Turn Negative in 2016 [UrbanTurf]