Fairfax housing market slows, but demand remains headed into summer

New home sales in Fairfax County and the D.C. region show cautious buyers but no crisis. Fairfax's average price per square foot held steady at $370, with home sales down 4.3% but pending sales up 7.2%. Median prices rose due to more single-family, higher-priced home sales. Regionally, sales dropped 6.5%, but pending sales increased. Economic uncertainty and federal workforce cuts temper market activity, though demand remains if mortgage rates fall.

Continue to full article