10/13/2026
π THE MARKET COULD USE A RATE CUT. OR AT LEAST A BREAK.
WASHINGTON, D.C. | MARYLAND | VIRGINIA
The Metro DC housing market continues to feel the pressure of higher mortgage rates, and the latest numbers show the slowdown isn't over.
For October 4β10, new contract activity across the region fell 15.2% compared with the same week last year. All six major jurisdictions recorded declines, but one price category stood out. π
π Weekly contracts: 1,014 β 860 (-15.2%)
β±οΈ Days on market: 44.3 β 46.7 days (+5.4%)
π Year-to-date contracts: 43,377 β 42,286 (-2.5%)
π‘ The unexpected bright spot? Homes priced below $300,000 saw contract activity increase 16.9%, while most other price categories declined.
This could reflect buyers searching for more affordable options, changes in available inventory, or homes moving into lower price brackets after price reductions. The data doesn't tell us which factor mattered most, but affordability is clearly an important part of the story.
Meanwhile, homes are taking slightly longer to go under contract. Still, the decline in contract activity is much greater than the increase in marketing time. The market is losing volume, but buyers haven't disappeared.
π‘ FOR SELLERS: With fewer buyers making offers, accurate pricing and strong presentation matter more than ever. Buyers are watching value closely, especially as higher rates affect monthly payments.
π FOR BUYERS: A slower market may create opportunities to negotiate. If the right home fits your needs and budget, it may be worth exploring your options.
π€οΈ THE TAKEAWAY: The Metro DC market is under pressure, but it's not inactive. With 860 homes going under contract in one week and activity increasing at the lowest price points, the market is showing us that affordability and smart pricing matter more than ever.
Market insights summarized from the latest regional market report by David Howell, Corcoran McEnearney.