Apartment Completions Fall in DC: A Deep Dive into the Real Estate Slowdown
Washington, D.C. is experiencing a noticeable slowdown in apartment completions, a trend that is raising eyebrows among developers, renters, and investors alike. While the nation’s capital has long been a hub of real estate development—especially in multifamily housing—2024 saw a significant drop in the number of new units delivered. According to recent data, apartment completions in DC fell by over 40% compared to the previous year, the steepest decline in nearly a decade. Among those closely watching this shift is Todd Ragimov DC , a recognized name in the city's real estate circles, known for his sharp insights and strategic investments. His take on the situation sheds light on the broader implications of this slowdown for both housing supply and affordability. Understanding the Decline in Apartment Completions The decline in apartment completions in DC is not an isolated phenomenon. It’s the result of several compounding factors. Developers cite high interest rates, incre...