It might be a good time to buy a home in D.C. — for some

State of play: Housing supply is rising quicker in the D.C. area than it is nationwide, due in part to former feds trying to offload their homes, per a new report from Redfin.

The big picture: It's not just housing: Federal cuts are impacting many aspects of the DMV's economy like local spending, unemployment and population growth.

What they're saying: Washingtonians are feeling uncertain about the local job market and the economy as a whole, and many are dragging their feet on big life purchases like a house, real estate agents tell Axios.

• "Emotions are playing a big role in what's happening right now," says real estate agent Alison Scimeca.

This means listings are taking longer to sell, and people who are taking the plunge have more choices and room to negotiate.

• "Competition is down, which gives buyers a bigger advantage," Scimeca says.

Yes, but: It's far from a free-for-all — there's still demand for housing, which is keeping prices steady overall.

• And if a single-family home is priced well within a desirable neighborhood, it can still get multiple offers and go above listing price, says real estate agent Joe Himali, who recently saw this happen at a Crestwood home.

Zoom in: The condo market is especially soft in D.C., says Scimeca. "They're sitting. Nothing's happening."

• This means prospective condo buyers have much more leverage than those buying a single-family home or townhouse. "People are more desperate to sell."

Pro tip: "This is not the time to be adventurous as a buyer," says Himali — no submitting offers that are wildly over asking a la 2021.

• If you're certain you'll be in the area for more than five years, and you feel secure in your job or financial stability, he says buying can be a good option.
• If you're uncertain about any of this, he suggests holding off.

The other side: Sellers know it's not their market anymore, say agents — they're going in with eyes wide open, ready to negotiate, and aren't pricing their homes on the high side.

By the numbers: The number of Washington listings jumped 22.7% between June 2024 and June 2025 — the third straight month of increases over 20%, found Redfin.

• Supply nationwide only increased 13.3% between June 2024 and June 2025.

Meanwhile, pending DMV home sales were down 0.3%, and places are taking longer to sell — 36 days on average, compared to 26 a year before.

• And fewer homes are going for asking price — 35.7% in June 2025, compared to 47.8% in June 2024.

Reality check: Demand is keeping prices strong — Washington's median home sale price was $608,000 in June, up almost 3% year-over-year, per Redfin.

• And the number of new listings is slowing — just up 0.3% in June — as would-be sellers pay attention to the market.

The bottom line: "Right now feels like the Wild, Wild West," Scimeca says, pointing to the DOGE cuts and President Trump's policies concerning D.C. "We've never weathered this kind of storm before."