This piece ran in the Washington Business Journal in the March 23, 2018 edition. The graphic was prepared by the Washington Business Journal using data supplied by the Institute.
Between February 2017 and February 2018, the number of existing home sales in the Washington region decreased 0.3 percent (14 sales). This is the third consecutive year-over-year decrease, marking the longest period of declines since 2014. The pace of closed sales in the region slowed considerably during the second half of 2017 and the region has had year-over-year decreases in five of the past seven months. In February 2018, sales in Suburban Maryland decreased 4.6 percent from last year and had the sharpest decline of the sub-state areas. Closed sales in Northern Virginia decreased 0.3 percent, while closed sales in the District increased 10.0 percent.