I don't know what else to say. Today MRIS released November's data for sales of existing homes in the District and it's awful. Probably the worst YoY performance I've ever seen. Key points:
- Dollar volume down 34.36%
- Unit sales volume [aggregate] down 31.51%
- Home unit sales down 21.78%
- Condo unit sales down 40.95%
At that sales rate, the condo market almost has a year's supply listed for sale.