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A Redfin analysis shows that the number of homes for sale in Washington, DC, rose at the fastest pace on record last month.
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Sweeping layoffs of government workers spearheaded by DOGE boosted the figure.
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DOGE slashed over 200,000 federal jobs in March alone, one analysis found.
Widespread layoffs of federal workers are rippling through the housing market of the nation’s capital, with Washington, DC, in April seeing the biggest surge in the number of homes for sale ever recorded, data from Redfin shows.
Active listings of homes for sale in Washington, DC, soared 25.1% year-over-year in the four weeks leading up to April 27, the real estate listings site said on Wednesday.
The firm said it’s the largest increase in active housing inventory in the area ever recorded, with its data stretching back to 2015. That’s compared to a 14.1% increase in homes for sale nationwide, which Redfin said is the smallest increase since March of last year.
“Quite a few people in DC are selling their homes because they’re losing their jobs,” Mary Bazargan, a Redfin agent based in the region, said in a note. “Many of those people are planning to leave the area because the cost of living is high and they want a new job that allows them to work remotely and be closer to family.”
The Department of Government Efficiency, which has sought to slash $2 trillion in government costs, has not released official figures on the number of federal workers it has cut.
It is estimated that the group cut over 216,000 government jobs in March, according to an analysis from the outplacement firm Challenger, Gray & Christmas.
In the first quarter, government job cuts were up by an estimated 624% compared to the same period last year, the firm added.
Read the original article on Business Insider
