Inventory increased for the first time since March 2023, but detached single-family inventory is still on the decline. In February, the number of active listings across the Washington, D.C. metro area was up 5.5% compared to a year ago. More inventory is a welcome sign for spring homebuyers, but those who are looking for a single-family home will still see shrinking options with single-family inventory down 2.5%. The inventory of townhomes was up 0.4%, while condo inventory increased a significant 19.4% year-over-year. Sales activity is still tracking well below pre-pandemic levels. Elevated mortgage rates are a factor in fewer transactions, but a lack of inventory continues to be the primary constraint in the Washington, D.C. area market, particularly in the region’s suburbs. The median sold price rose 4.7% in February, with the strongest price appreciation among single-family homes (+10.7%). Prices were up in all markets, with the exception of the District of Columbia.