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Predictions for 2024 D.C. real estate market

Declining interest rates and low inventory likely

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Experts predict that inventory of homes for sale in the D.C. market will remain low in 2024 as interest rates decline.

As we head into 2024 with hopes of our weight dropping, one thing we are seeing, that is actually happening, is mortgage rates are dropping. 

For obvious reasons it is hard to predict what 2024 holds for mortgage rates and market stability. I prefer to collect a few top-notch professionals and then sprinkle in some Bravo. For this article, we will take a look at predictions from Fannie Mae, one of the large players in the mortgage industry. Next we will take a look at what the National Association of Realtors has to say (NAR) and finally…we will mix in some of Ryan Serhants two cents. I enjoy Ryan mainly because he has gray hair like I do.

Fannie Mae and Freddie Mac are the two largest players in the mortgage industry and as such, I always like to take a look at their projections as they trend toward truth. Fannie Mae predicts that the average rate will be right around 6.7% with a strong belief that they will not fall below six percent. Obviously that is not the 3% we were seeing during the pandemic, but we were seeing a lot during the pandemic that most of us don’t want to see again. More importantly Fannie Mae predicts that the housing market will remain compressed as the low inventory levels remain in full effect. On the flip side, they do project that home prices will increase by 2.4% compared to last year and this is likely the perfect storm combo of lower, more manageable rates, combined with consistently low inventory. Simple supply and demand will raise home prices. This is an interesting take away because most buyers believe that the market is returning to pre-pandemic prices but projections tell us that is not the case.

The next heavy hitter we are going to take a look at is the National Association of Realtors. Aside from all of their bad press as of late – we are simply looking at their projections for 2024 as these are historically pretty spot on. For starters, NAR is predicting that the number of national home sales will increase by nearly 14% compared to 2023, which is a massive increase when taking a look at the interest rates. NAR believes that the national average home price will pretty much stay the same, however with the lowered interest rate when looking at last year, this will indeed help with home ownership affordability for this year. Similarly to Fannie Mae, NAR believes the mortgage rate to be lowest at 6.3% while that is not what they believe to be the average rate.

Lastly, and perhaps most importantly, Ryan Serhant from ‘Million Dollar Listing N.Y.’ For starters, Ryan relies heavily on the reminder that not long ago we were in the uncharted times of COVID. Much of our lives, industries, and the world have been changed and while some things have returned to normal, we truly won’t see the correction for other things happening for quite some time, if ever. One of those markets being the real estate market, which likely won’t correct for some time. One of the reasons is the high number of remote workers. While some of us have returned to our offices and water cooler chit chat, a large number of employers are still riding high on the lack of office space and tighter margins. As such, many buyers are looking at markets outside of metro areas that are a bit more affordable. Serhant predicts that in 2024 this trend will continue and while there won’t be a huge mass exodus from metro areas, there will be an increase in those markets with some tumbleweeds. He also predicts, similarly, that suburbs will see a large increase in interest as city dwellers want yards and a garage and some more space to stretch out. One powerful take away from Serhant is this quote: “Remember, markets shouldn’t dictate your outcomes. They should only dictate your strategy.”

To take a few paragraphs and summarize them while curating for our D.C. metro market I would say the following predictions should be heavily weighted. In 2024, we will see an increase in home sales across the D.C. area with focus on more suburban and rural areas where buyers get a little more space for their dollars as well as a longer term investment. Think Gaithersburg, Upper Marlboro and Bowie, and smaller towns near Middleburg. We will see mortgage rates steady out around the mid 6% range, which will make home buying more affordable for lots of folks. Unfortunately we will also see inventory levels remain lower than average with new inventory slower to launch on the market. When looking at the simple understanding of supply and demand, we have lower interest rates, which means more buyers will return to the market that had previously left due to being priced out, combining that with the consistent low inventory will likely cause a greater demand that we saw in 2023 in our market which will result in a stable and strong real estate for 2024.

One surefire way to make sure you are geared up and ready for the real estate market is to work alongside a real estate agent that has their pulse on the local market you wish to transact in as well as an understanding of current economic times. I also have a list of great personal trainers if you want to work on that other 2024 resolution.

Justin Noble is a Realtor with Sotheby’s international Realty licensed in D.C., Maryland, and Delaware for your DMV and Delaware Beach needs. Specializing in first-time homebuyers, development and new construction as well as estate sales, Justin is a well-versed agent, highly regarded, and provides white glove service at every price point. Reach him at 202-503-4243, [email protected] or BurnsandNoble.com.

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Real Estate

The rise of accidental landlords

How changing market conditions are impacting property management

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In a buyer’s market, many sellers are looking to rent their homes rather than reduce the sales price. (Photo by zimmytws/Bigstock)

Why are there more “accidental landlords” renting out their properties in the Washington, D.C., metro area? 

The answer, according to The New York Times and other sources, is the current state of the real estate market. A growing number of accidental landlords are emerging as homeowners rethink their options in a challenging sales market. Rather than accept lower offers than they feel their properties deserve, many are choosing to rent instead of sell. 

This shift reflects both financial caution and changing market dynamics, where holding onto an asset and generating rental income can seem more appealing than locking in a perceived loss.

A Market in Transition

The D.C. housing market remains fundamentally strong, but it has clearly shifted from the frenzied seller’s market of prior years. Inventory has increased significantly, and according to Redfin, active home listings in the Washington, D.C., metro area have increased significantly, with reports indicating a rise of roughly 33% to 50% year-over-year in late 2025 and early 2026. 

This surge in inventory, coupled with falling demand, has shifted the market in favor of buyers, with roughly 22% more homes for sale than interested buyers. At the same time, homes are taking longer to sell. Buyers are still active, but they’re more selective, more price-sensitive, and less likely to engage in bidding wars.

This combination of rising inventory and longer selling timelines has created a key tension: sellers are no longer guaranteed the price they want. What’s a homeowner to do? Rent.

Why Homeowners Are Choosing to Rent

Rather than reduce their asking price, many homeowners are choosing to hold onto their properties and rent them out. National data confirms this shift. According to a report from Zillow, the share of rental listings made up of homes that failed to sell has climbed to near-record levels, with these accidental landlords accounting for a growing portion of rental supply. The number of these homeowners nationwide is at a three-year high.

The underlying psychology is simple: most sellers are not under immediate pressure to sell. And instead of accepting what they perceive as a discounted price, they opt to generate rental income and wait for more favorable market conditions.

For many homeowners, renting offers a way to “pause” the sales process without exiting the market entirely.

The Ripple Effect on the Rental Market

This influx of accidental landlords is reshaping the rental landscape. And this could be you!

  1. This trend is increasing rental supply. When unsold homes are converted into rentals, they add inventory to a market that has already seen new apartment deliveries and multifamily expansion. This is one reason rent growth has cooled in recent months, with national increases slowing to modest levels. 
  1. Additionally, it is changing the type of available rental housing. Accidental landlords are more likely to offer single-family homes, townhouses, or condos; properties that differ from traditional apartment stock. Zillow notes that single-family homes make up the largest share of these rentals now.

For renters in D.C., this means more choices, particularly in neighborhoods where rental inventory was previously limited.

Operational Challenges for Accidental Landlords

While renting may seem like a straightforward fallback strategy, many accidental landlords quickly discover that property management is a complex, operationally intensive business. Some of the most common challenges include:

  • Tenant screening and leasing compliance. D.C. has robust tenant protections and rent control regulations, particularly for older multifamily buildings. One wrong step can create legal complications home owners are not prepared for.
  • Maintenance and repairs. Deferred maintenance can quickly erode profitability and tenant satisfaction. And tenants do have the power to cut into your monthly profit when certain livability standards are not met.
  • Cash flow management. Not all rental income covers mortgage payments, especially for owners with higher interest rates. 
  • Regulatory compliance. Licensing, inspections, and rent stabilization rules can create administrative burdens.

In short, many homeowners underestimate the complexity involved in the transition from owner-occupant to landlord. What begins as a temporary strategy can evolve into a long-term operational commitment.

Property Management Firms Are Stepping In

As a result, property management companies across the D.C. metro area are seeing increased demand, particularly from first-time landlords. These owners often lack the infrastructure, systems, and expertise required to manage a rental property effectively. Professional management firms provide an array of solutions including marketing and leasing services, tenant screening and placement, rent collection and financial reporting, maintenance coordination, and compliance with D.C.’s evolving regulatory environment. For accidental landlords, outsourcing these functions can turn a reactive decision into a more structured investment strategy.

Green Renting: A Strategic Advantage in D.C.’s Rental Market

One often overlooked opportunity for accidental landlords—especially in Washington, D.C.—is the growing demand for “green renting.”

Energy efficiency is no longer just a lifestyle preference. For many renters, particularly in a high-cost city like D.C., it is a financial decision. Utility costs in the District can be significant, especially during peak summer and winter months. Properties that offer lower monthly energy expenses immediately stand out in a competitive rental market.

Installing solar panels, where feasible, can meaningfully reduce or even offset tenant electricity costs. For renters comparing similar properties, the difference between a standard utility bill and a reduced or stabilized energy cost can be a deciding factor. This is particularly true in D.C., where tenants are often highly-informed, environmentally-conscious, and sensitive to total monthly living expenses, not just base rent.

For landlords, the benefits extend beyond tenant appeal. Solar installations can help reduce vacancy, support longer lease terms, and create a premium perception that differentiates a property from competing listings. In some cases, landlords may also benefit from local incentives, tax credits, or increased property value tied to energy improvements.

In a market where many accidental landlords are competing on similar housing stock—single-family homes, condos, and townhouses—energy efficiency can become a key differentiator. It is not just about sustainability; it is about positioning a property to perform better financially.

A Local Market With Unique Dynamics

Washington, D.C., is a housing market shaped by federal employment, policy changes, and macroeconomic uncertainty. Recent developments, including fluctuations in the federal workforce and return-to-office mandates, have influenced both housing supply and demand. In some cases, these shifts have contributed to increased listings and more cautious buyer behavior. At the same time, D.C.’s high cost of entry continues to support rental demand. This dual dynamic creates ideal conditions for the rise of accidental landlords. Are you ready for this seismic shift? 


Scott Bloom is owner and Senior Property Manager of Columbia Property Management.

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Real Estate

How to navigate shifting tenant expectations

Remote work driving many changes

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D.C., is one of the top 10 U.S. cities where remote work is most popular. (Photo by dolgachov/Bigstock)

Are you prepared to meet the changing expectations of tenants? Tenant priorities are continuously shifting. As professional property managers, my team has witnessed firsthand the evolving demands of tenants over the last few years. 

Frankly, today’s D.C. residents have high standards. Many have shifted to remote work, and they are placing a growing emphasis on sustainability. And these expectations are poised to evolve even further, with factors like affordability, technology integration, and community-driven amenities taking center stage.

Understanding these changes and adapting your rental to meet the growing demands of tenants and their evolving preferences will not only help you attract high-quality residents but also settle into long-term success in a competitive market. Let’s look at key tenant trends for 2026  in Washington, D.C. by providing practical strategies that help owners and investors navigate this shifting landscape, ensuring your property remains desirable and profitable in an increasingly growing rental market. 

According to Buildium’s 2025 Industry Report, tenant retention is rising, and that’s due to a number of factors. It’s expensive to move, so if residents are enjoying a peaceful and pleasant rental experience and they appreciate where they live, it’s unlikely they will spend more money to live somewhere else. 

The “2026 State of the Property Management Industry Report” also noted the rise of “Resident Benefit Packages,” which has contributed to retaining good residents. When landlords and property managers offer benefits such as protection against late payment fees, online conveniences, credit monitoring, air filter drop shipments, preventative maintenance services, and even concierge amenities, they increase tenant satisfaction and retention.

By investing in resident benefits, you can increase the likelihood of keeping your tenants satisfied. They’re more likely to renew their lease agreements and contribute to the care and upkeep of their home.

Provide smart home tech  

According to data gathered by Nasdaq, Washington, D.C., is one of the top 10 U.S. cities where remote work is most popular, with more than one-third of the population working from home at least part of the time. Even with the federal government calling many people back into the office over the last year, remote work continues to be normalized. Tenants are working and studying from home, and they need their home to support that lifestyle shift.

They’re looking for technology, and that factor provides you the opportunity for you to attract remote workers as residents. While smart home technology was once a fairly niche amenity, it’s now becoming the standard. It’s an expectation of most tenants in Washington, D.C., that at the very least they’ll be able to:

  • Connect to fast Wi-Fi at their home
  • Enjoy online rental payment platforms that are secure and convenient.
  • Make routine maintenance requests through resident portals

It was also recommended considering installing keyless entry systems, offering upgraded security such as video doorbells, investing in smart thermostats, and making it as easy as possible for tenants to integrate their own digital platforms and apps into their home life, whether that’s Alexa or Siri or their own personal AI-driven digital assistant. 

Community-Driven Amenities in Washington, D.C., Rentals

Are you renting out units in a multi-family building or an apartment? Washington, D.C., tenants are focused on community and social connection, and so the demand for community-driven amenities is on the rise. 

In 2026, renters are looking beyond traditional features like gyms or pools, seeking spaces that allow for interaction, well-being, and a sense of belonging. Co-working spaces, communal kitchens, and rooftop gardens are now more popular in buildings that are working to attract tenants who prioritize shared experiences. A recent report from Ronco Construction reports that these are the emerging trends in multi-family housing amenities:

  • Rooftop decks
  • Outdoor lounges
  • Community gardens
  • Fitness studios
  • Dog parks and pet spas
  • Co-working space

Know your tenant pool

If you rent out single-family homes, you’re dealing with tenants who prefer privacy and space. In those multi-family buildings and condo communities, however, tenants are likely looking for opportunities to connect with their neighbors and make friends. We have seen tenants drawn to properties that offer event programming, such as fitness classes, happy hours, or cultural gatherings, helping create a sense of community in a neighborhood atmosphere. 

As an owner, investing in these types of amenities can increase tenant satisfaction, encourage long-term leases, and set your property apart in a competitive market where residents crave more than just a place to live, but also a place to connect.

‘Green Renting’ in D.C. 

Tenants want to save money on energy and utilities. Most of them would also rather do whatever they can to be more conscious of their effect on the planet. The city of Washington, D.C., actively encourages this. According to Building Innovation Hub, Washington, D.C., wants to cut greenhouse gas emissions in half by 2032. More efficient building standards and energy incentives are making that possible. 

Rental property owners can meet tenant expectations around sustainable living and environmental-friendly features by providing LED lighting, energy-efficient appliances, low-flow plumbing fixtures, and modern programs for managing waste and recycling. 

Every tenant in Washington, D.C., is different of course, but there are common expectations that come with residents when they’re looking for a new home. Those highlighted here are even more important to tenants in 2026. 

Find out how to make your Washington, D.C., rental property more competitive on the market. Engage a professional property manager for the advice you need.


Scott Bloom is owner and senior property manager of Columbia Property Management. 

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Real Estate

Surviving spring cleaning

Create a space that feels comfortable, welcoming, and easy to maintain

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It’s that time of year: spring cleaning!

Whether or not you are getting ready to sell your home, spring is finally upon us — you know, the time of year when you can open the windows to a warm breeze and commit to decluttering and thoroughly cleaning your home.

While decluttering, you will be faced with the challenge of what to keep and what to discard. Mysterious items may appear: the missing charger, the set of keys that open nothing, or, with any luck, that one important document you know you put “in a safe place.” The journey often turns into an archaeological dig through the layers of your daily life. Along the way, you will likely encounter objects that have been misplaced or are no longer needed, and you’ll wonder why you kept them in the first place.

The kitchen junk drawer, for example, is a universal catch-all that defies categorization. You might open it looking for a rubber band and instead discover a lone screw of unknown origin, a tube of hardened Super Glue, and at least four pens that no longer work.

Closets offer another layer of surprises, where you can find things that don’t seem to belong at all: cash in a coat pocket, a single glove, a book you meant to read, or a box filled with cables for devices you no longer own.

It’s guaranteed that if you only have one of a pair of something, its mate will appear shortly after you have thrown away the one you had. And, if you were intentionally searching for an item, it will turn up in the last place you look, simply because once you found it, you stopped looking.

Linen closets and bathroom cabinets can also harbor oddities. Now is the time to discard half-used or duplicate products you don’t remember buying, travel-sized toiletries from trips long past, or expired medications.

Under furniture is where things get truly mysterious. Reaching beneath a couch or bed in search of a dropped item often yields a collection of the unexpected: assorted coins, dust-covered pet toys, a missing sock, and perhaps something that makes you pause, like a long-lost piece of jewelry or an object you were convinced had disappeared forever.

Organizing garages and basements takes the experience to another level, where consolidating tools or seasonal decorations stored there can quickly turn into an encounter with objects that defy explanation. Why is there a box of tiles from a renovation that happened a decade ago? Do you really need the instruction manuals for appliances you no longer own? What could possibly be in the box that hasn’t been opened since you moved in?

Even searches within a home office – looking through files, drawers of old electronics, or stacks of paperwork—can yield similarly strange results. I recently found several flash drives with client files from 2014, a cache of notebooks containing names and phone numbers of prospects who left the area 15 years ago, and Turbo Tax installation CDs from as far back as 1997. 

If decluttering hasn’t defeated you, then thoroughly cleaning your house may not be as overwhelming as you might think. Breaking it into manageable steps makes the process far simpler and even satisfying. A consistent method is the key to success.

Before you reach for cleaning supplies, take one last walk through each room and gather items that belong elsewhere for return to their proper place. Put away clothing and take out trash. This step instantly makes your home look better and clears the way for more effective cleaning. Working from top to bottom, dust ceiling fans, light fixtures, shelves, and blinds first so that any debris falls to the floor for addressing later. Use a microfiber cloth or handheld Swiffer to trap dust rather than spreading it around. Don’t forget overlooked areas like the tops of door frames, windowsills, and baseboards.

Move on to surfaces. Wipe down countertops and furniture with appropriate cleaners. Squeegee windows to let the sun shine in. Pay special attention to kitchen appliances. Stovetops, microwaves, and refrigerator handles tend to collect grime quickly, as do the tops of upper cabinets. In bathrooms, disinfect sinks, toilets, tubs, and showers. 

Lastly, vacuum carpets, rugs, draperies, and upholstered surfaces thoroughly, including along edges and under furniture where dust accumulates. For hard floors, sweep first, then mop using a cleaner suitable for the surface type. This final step pulls the whole cleaning effort together and leaves your home feeling and smelling fresh.

Ultimately, cleaning your house doesn’t have to be a daunting chore. With a clear plan and a little consistency, you can create a space that feels comfortable, welcoming, and easy to maintain – at least until this time next year.


Valerie M. Blake is a licensed Associate Broker in D.C., Maryland, and Virginia with RLAH @properties. Call or text her at 202-246-8602, email her at [email protected] or follow her on Facebook at TheRealst8ofAffairs.

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