Northern Virginia's housing inventory rose 52.7% year over year in June, reaching 2,512 homes, while median home prices dropped 1.3% to $770,000, marking the first annual price decline in 2025. Homes spent 20 days on the market, up 42.9%, signaling a shift toward a buyer's market. Increased contract cancellations nationwide and locally reflect buyers' greater negotiating power amid economic uncertainties and federal layoffs impacting the market.