D.C.-area home prices hit record high (yet again)

State of play: The D.C. region continues to experience high inventory amid federal layoffs, per Bright MLS.

• Active listings were up 41.6% at the end of May compared to the same month last year.

The intrigue: Even though home sales have been slow-moving overall, there are still enough buyers taking advantage of the jump in inventory to keep prices high.

Zoom in: Washington's median sales price for last month jumps to $850,707 when zeroed in on just detached single-family homes.

What we're watching: It's still too early to see the full impact of the DOGE cuts on Washington's market, Bright MLS chief economist Lisa Sturtevant tells Axios.

• "Many federal workers who have been laid off remain on the payroll until September. Families with children still want to get through the end of the school year before making any moves," she says.
• "So we could see more of an impact of DOGE on the area's housing market this summer."