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Helicopters permanently restricted on route near Washington airport where 67 died in midair crash

WASHINGTON (AP) — Helicopters will be permanently restricted from flying near Washington, D.C.’s on the same route where a passenger jet and an Army helicopter collided in midair, killing 67 people, the Federal Aviation Administration said Friday.

The move comes just days after federal investigators looking into the cause of the recommended a ban on some helicopter flights, saying a string of near misses in recent years showed that the current setup “poses an intolerable risk.”

The , which manages the nation’s airspace and oversees aviation safety, has come under criticism after the National Transportation Safety Board said there had been an alarming number of near misses in recent year in the congested skies around Ronald .

The closure of the helicopter route near the airport makes permanent the restrictions put in place after Jan. 29 midair collision. The FAA order will allow a few exceptions for helicopter use, including presidential flights along with law enforcement and lifesaving missions.

The FAA also said it is studying cities with airports where there are a high number of different types of aircraft sharing the same space, including eight metro areas with busy helicopter routes: Boston, New York, Baltimore-Washington, Detroit, Chicago, Dallas, Houston and Los Angeles.

It also is looking at offshore helicopter operations along the Gulf Coast. Transportation Secretary Sean Duffy said this week that the FAA will use artificial intelligence to analyze data to look for similar danger areas.

But first Duffy vowed to adopt the ‘s recommendations for reducing airspace congestion near Reagan National and stop helicopters from “threading the needle” by flying under landing planes.

The Army supports the FAA’s efforts to improve aviation safety around the nation’s capital and will use “alternative routes to mitigate impacts on training and readiness,” spokesman Matt Ahearn said Friday.

Before the collision, there were 28 government agencies authorized to fly helicopters near Reagan National, including the Department of Defense, military services, law enforcement, and emergency medical services.

The Army Black Hawk involved in the January crash belonged to the 12th Aviation Battalion based at Davison Army Air Field at Fort Belvoir, Virginia. That unit has a classified mission to ensure continuity of government by getting certain officials to safety in case of an attack.

It is also tasked with ferrying high-ranking government and military officials to bases throughout the region. Before the crash the now-closed route

was a regular part of their mission routes and training.
The impact on the unit and flights around Reagan National is expected to come up at a March 27 hearing at the Senate Commerce Committee hearing where Brig. Gen. Matthew Braman, director of Army aviation, is expected to testify alongside the acting FAA administrator Chris Rocheleau and

National Transportation Safety Board chairman Jennifer Homendy.

In a letter to Braman, Texas Sen. Ted Cruz pressed for answers on whether the Army Black Hawks regularly operate without transmitting location data, and how many flights it regularly conducted to transport dignitaries and high-ranking officers.
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Seewer reported from Toledo, Ohio.

Americans increased spending tepidly last month as anxiety over the economy takes hold

WASHINGTON (AP) — U.S. shoppers stepped up their just a bit in February after a sharp pullback the previous month, signaling that Americans are shopping more cautiously as concerns about the direction of the mount.

sales rose just 0.2% in February, a small rebound after a sharp drop of 1.2% in January, the Commerce Department said Monday. Sales rose at grocery stores, home and garden stores, and online retailers. Sales fell at auto dealers, restaurants, and electronics stores.

The small increase suggests Americans may be growing more wary about spending as the has plunged and ‘s tariff threats and government spending cuts have led to widespread uncertainty among consumers and businesses.

Some economists were relieved the numbers weren’t worse. Still, many expect will grow just 1% to 1.5% at an annual rate in the first three months of this year, far below the 4.2% gain in the final quarter last year.

“ spending is on track to slow sharply this quarter, but not by as much as we previously feared,” Stephen Brown, an economist at Capital Economics, a consulting firm, said in an email.

On Friday, a measure of consumer sentiment fell sharply for the third straight month and is now down more than 20% since December. Respondents to the University of Michigan’s survey cited policy uncertainty as a leading reason for the gloomier outlook. While the respondents were divided sharply by party — sentiment about the current economy fell among by much less than for Democrats — Republicans’ confidence in the economy’s future dropped 10%.

Consumers from all income levels are feeling more strained, according to a slew of earnings reports over the past few weeks from major retailers including Walmart, Macy’s and Dollar General.

Walmart, the nation’s largest retailer and a bellwether for the retail sector, released a weak outlook last month citing uncertainty around .

February sales also fell last month at gas stations, clothing stores, and sporting goods stores. The figures aren’t adjusted for prices, and the cost of gas also declined in February, which likely accounts for most of the drop. Excluding gas and autos, retail sales rose 0.5%, a healthier figure but still modest after a plunge of 0.8% in January.

Also Monday, the National Association of Homebuilders said its index measuring builder sentiment fell three points to 39, the lowest level in seven months, as economic uncertainty dimmed builders’ outlook and fewer potential buyers visited .

“Economic uncertainty, the threat of tariffs and elevated construction costs pushed builder sentiment down in March,” the group said. The homebuilders estimate tariffs will add $9,200 to the cost of a new home.

Macy’s says its customers, even at its upscale chains Bluemercury and Bloomingdale’s, are feeling angst and its financial outlook this month reflects that.

“I think the affluent customer that’s shopping Macy’s is just as uncertain and as confused and concerned by what’s transpiring,” Macy’s CEO Tony Spring said at the time.

Hiring has mostly held up and there are no signs that companies are laying off workers. As long as Americans have jobs, spending could remain resilient. But that is not assured.

Dollar General CEO Todd Vasos said Thursday that the overall economic picture for his customers is not ideal and the company said it would close around 100 stores.

“Our customers continue to report that their financial situation has worsened over the last year as they have been negatively impacted by ongoing inflation ” Vasos said during an earnings call. “Many of our customers report that they only have enough money for basic essentials, with some noting that they have had to sacrifice even on the necessities.”

Spending patterns at Costco have changed to accommodate a soured view of the economy, including a shift toward ground beef and poultry instead of more expensive cuts of meat, said to Gary Millership, the company’s chief financial officer.

American Eagle Outfitters CEO Jay Schottenstein said angst is particularly high among younger customers.

“Not just tariffs, not just inflation,” said Schottenstein. “We see the government cutting people off. They don’t know how that’s going to affect them. And when people don’t know what they don’t know – they get very conservative.”

The retail sales report mostly just covers goods purchases — as well as restaurant sales — but there are signs Americans are cutting back spending on services as well.

Airline executives at JP Morgan’s airline industry conference last week said bookings have fallen.

“There was something going on with economic sentiment, something going on with consumer confidence,” said Delta CEO Ed Bastian at the industry conference.

Amazon Fresh, Arlington nonprofit to lay off 200+ workers in Northern Virginia

An Fresh store in is closing, and an nonprofit is laying off 149 employees due to federal funding cuts, the two employers disclosed in WARN notices to a state agency this week.

The , aka , posts federal Worker Adjustment and Retraining (WARN) Act notifications it receives from employers that expect to lay off a significant number of workers either because of reductions in force or a business’ closure.

The state agency received a WARN letter from Amazon on March 12 that it plans to lay off 88 workers at 7807 Sudley Road in Manassas, an store, effective May 13. The store will close March 16, Inside NoVa reported. It opened in 2022.

(AIR), a nonprofit that conducts behavioral and social science research and delivers technical assistance in the areas of education, health and the workforce, will lay off 149 employees on May 9, according to a WARN letter received by the commonwealth March 11. The employees work on the 10th floor at 1400 Crystal Drive in Arlington County.

“Like many organizations, the American Institutes for Research (AIR) has had to make difficult decisions in response to recent federal funding cuts, including reducing our workforce by 18%,” Jessica Heppen, president and CEO of AIR, said in a statement. “AIR’s reduction in force affected many talented professionals who were committed to meeting the needs of our clients and the communities we serve. While extremely difficult, these reductions were necessary as we adjust to an evolving landscape for federal contractors.”

The Virginia Department of Workforce Development and Advancement announced March 14 that 4,036 unemployment insurance weekly initial claims were filed during the week ending March 8, which is 40.1% higher than the previous week’s 2,881 claims and 81.1% higher than the comparable week of last year. 

Amazon Fresh stores are physical grocery stores where customers can shop. The 44,600-square-feet Manassas store is located at Sudley Manor Square, which is managed by Seneca Properties.

Amazon Fresh has other stores in Virginia in Alexandria, Fairfax, Falls Church, Franconia and Lorton, according to its website.

“Certain store locations work better than others, and after an assessment of our offering we’ve decided to close our Amazon Fresh store in Manassas,” Amazon said in a statement. “Customers in the area can continue to shop from a wide selection of grocery products at Amazon.com/grocery with same-day delivery options, or from our other Amazon Fresh and Whole Foods stores in the area. We remain committed to Amazon Fresh and our broader grocery strategy, and will continue to refine our portfolio of stores as we learn which locations and features resonate most with customers.”

Amazon noted in its WARN letter that the are expected to be permanent. The positions being cut include 16 food production associates, 65 store associates and seven managers.

Earle-Sears has faced tough races before. Her campaign for Virginia governor is no different

RICHMOND, Va. (AP) — is used to facing formidable obstacles in her political campaigns, and her bid to be Virginia’s next is no exception.

The Jamaican immigrant, Marine veteran and devout Christian will first need to win the primary in June at a time when her party has been taken over by and his “Make America Great Again” movement. Then will have to woo moderate and independent voters in the November general election as Democrats look to tie her to Trump’s overhaul of the federal government, an effort that has many Virginians worried about their future.

The shifting landscape in Washington is already impacting some voters in the densely populated counties of northern Virginia, where if you don’t work for the government, you probably know someone who does. But Earle-Sears, who has long defied conventional wisdom on what it means to be a conservative in Virginia, says she is up to the test.

“Life is a fight,” she said in a recent interview, “and we shouldn’t be surprised by a fight.”

Still, this fight has grown more complex.

Before February, Earle-Sears was in line to face one potential GOP challenger, an outsider who had only raised $126 for his campaign, compared with more than $2 million for the lieutenant governor. Then Dave LaRock, a former state delegate, announced he would run, pledging to cull through a “Virginia Department of Government Efficiency” that mirrors ‘s in the Trump administration.

Soon ex-state Sen. Amanda Chase joined the race. At this point, however, it is unclear whether LaRock or Chase will gather enough signatures to qualify for the primary ballot by next month’s deadline.

With the Republican president staying quiet so far about his preferred , Chase quickly reminded voters that Earle-Sears has kept her distance from Trump and his political movement in the past.

“Our current announced Republican nominee is a Never Trumper who has really never come out and embraced our President, President Donald J. Trump,” Chase wrote in her campaign announcement.

In case that wasn’t clear enough, she later added: “We want a Trump candidate for governor.”

The Earle-Sears campaign doesn’t seem worried: “Challengers can enter the race, but the outcome will be the same” – victory, her campaign said in a statement.

Recent history may not favor Virginia Republicans this election season. Every time a new president has been elected since 1977, the following year Virginia has voted in a governor from the opposite party.

Trump, who is praised by Earle-Sears’ rivals, has never carried Virginia in his three presidential campaigns. Virginia Democrats have begun tapping into voters’ demonstrated antipathy toward the president and are criticizing the lieutenant governor for defending Trump’s spending cuts, arguing she and other Republicans support the White House’s unilateral sweeping away of federal jobs.

But Earle-Sears is promoting herself as a politician who has overcome obstacles that some said were insurmountable.

As a Black Republican, she said, she defies misconceptions about who should belong to what party. And while Virginia’s 400-year history might cast doubt on the prospect of a Black woman holding statewide office, Earle-Sears broke that barrier.

Taped to the wall of her office, Earle-Sears had written out Biblical verses next to reminders of such determination: “Come and do the impossible, Winsome. Come and endure the impossible, Winsome. Come and believe the impossible, Winsome.” Lining the walls of her office suite are framed photos of the first African American members elected to the Virginia General Assembly during Reconstruction and of Coretta Scott King.

In some cases, the lieutenant governor’s unvarnished attitude toward politics has led her to unexpected victories. That happened, for example, when she ousted a 10-term Democrat in the House of Delegates at the outset of her political career. Earle-Sears had spent just half the amount of money in the left-leaning district. In 2021, nearly two decades after she last held political office, Earle-Sears became the first Black woman elected statewide.

She’s had setbacks, too. She was handily defeated by U.S. Rep. Bobby Scott, a Democrat, in a 2004 race for Congress. When she ran for the U.S. Senate in 2018 as a write-in candidate, she got less than 1% of the vote.

“It’s definitely the case that being a Black woman makes you a double minority, and being a Black Republican woman would make you a triple minority,” said Ernest McGowen, a political science professor at the University of Richmond. He added: “You may be able to bring a kind of life experience that maybe some in the party have not had. But you also have to confront some of the misconceptions and deep-seated notions that some members of your party may have.”

Virginia is one of two states picking a new governor this year and is also one of the top states for federal jobs. Trump’s agenda will undoubtedly play a role in voter attitudes as he continues to winnow and entirely eliminate agencies. Roughly 300 and 100 government contractors already applied for unemployment during the first three weeks of February in Virginia, according to the state’s labor secretary, George “Bryan” Slater, and those numbers are expected to grow.

Still, there are some divides in the Virginia Republican Party over loyalties to Trump.

LaRock joined the “Stop the Steal” rally near the White House on Jan. 6, 2021, though he has said he did not participate in the violence at the Capitol on that day. Chase, who has described herself as “Trump in heels,” was censured by the state Senate in 2021 after she seemed to voice support for people who had rioted in the nation’s capital on Jan. 6.

Earle-Sears had not cozied up to Trump in recent years.

In 2020, she co-chaired a group called Black Americans to Re-elect President Trump. But after the 2022 midterms, she said Trump was a liability and suggested it was time for the party to move on. In her 2023 memoir, Earle-Sears commended Trump’s policies during his first term, but she said, “For the good of the nation, I do not think he should run again in 2024.” Last August, she said she would vote for him, according to Lynchburg’s News and Advance.

Trump has criticized Earle-Sears, posting on Truth Social, his social media platform, in 2022: “Never felt good about Winsome Sears. Always thought she was a phony. Now I find out she is.”

Earle-Sears says she is undeterred.

“I’m a Christian, and so that’s where I go to for guidance,” she said.

Olivia Diaz is a corps member for The Associated Press/Report for America Statehouse News Initiative. Report for America is a nonprofit national service program that places journalists in local newsrooms to report on undercovered issues.

 

NOVA launches initiative to help recently unemployed federal workers

Northern Virginia Community College on Wednesday announced the launch of an initiative to help recently unemployed and contractors transition to their next careers.

Known as NOVAnext (new employment, exploration and transition), the initiative is designed to help workers to explore how their skills and experience can match in-demand jobs available in the region. It also helps workers gain skills needed to start an enterprise.

“Many talented Northern Virginians are facing sudden, unexpected changes in their professional lives,” NOVA President Anne M. Kress said in a statement. “As the community’s college, NOVA is focused on advancing opportunity, and the current moment has made our mission ever more important. We are honored to play a role in connecting residents across the region to their next steps, helping to build brighter futures.”

Tens of thousands of federal workers have received pink slips under ‘s administration, although a federal judge in San Francisco on March 13 ordered the administration to rehire thousands of probationary workers — those who are new to their present jobs in federal departments and agencies — that were fired by the Office of Personnel Management. Unions and nearly two dozen states’ attorneys general have sued the government in multiple lawsuits challenging the firings of probationary staffers, which number about 200,000.

White House Press Secretary Karoline Leavitt, responding to U.S. District Judge William Alsup’s order, said the Trump administration “will immediately fight back against this absurd and unconstitutional order.” In spite of the judicial order, Trump has made it plain that he expects to cut the 2.3 million federal workforce significantly, leaving about 145,000 Virginia residents who work for the concerned about their jobs.

Virginia Gov. Glenn Youngkin responded last month with the rollout of a jobs site to help connect unemployed workers with the state’s approximately 250,000 open jobs. At an appearance at Capital One’s headquarters in Tysons, Youngkin said that the new VirginiaHasJobs.com site will “stretch across every industry imaginable,” including advanced manufacturing, health care, space, education and law enforcement.

For its part, NOVA says it will commit up to $1 million in scholarship aid to allow approved participants to enroll for free in one of 14 courses and access online workshops on resume-writing and job search techniques. Federal workers and federal contract workers are eligible for the program if they have been laid off on or after Feb. 1, reside within the NOVA service area, meet a residency requirement and fill out an online application reviewed by Virginia Career Works.

Students can also enroll in any other FastForward or NOVA course at regular tuition and may qualify for additional state financial aid.

Chamber of Commerce President and CEO Julie Coons said in a statement that the chamber will partner with NOVA on the initiative.

“NOVAnext is a step forward in strengthening our region’s workforce and tackling the challenge of ensuring long-term economic resilience,” Coons said. “We commend for their swift action, empowering laid-off federal employees for future opportunities.”

Wall Street rallies to its best day in months, but that’s not enough to salvage its losing week

NEW YORK (AP) — U.S. rallied to their best day in months on Friday as ‘s roller coaster suddenly shot back upward. That still wasn’t enough to keep the U.S. from a fourth straight losing week, its longest such streak since August.

The jumped 2.1% a day after closing more than 10% below its record for its first “ correction ” since 2023. The last time the index shot up that much was the day after President Donald Trump’s election, when Wall Street was focusing on the upsides of Trump’s return to the White House.

The Dow Jones Industrial Average climbed 674 points, or 1.7%, and the Nasdaq composite jumped 2.6%.

A multi-day “relief rally could be coming” after so much negativity built among investors, said Yung-Yu Ma, chief investment officer at BMO Wealth Management. Swings in sentiment don’t go full-tilt in just one direction forever, and the U.S. has been tumbling quickly since setting a record less than a month ago.

One piece of uncertainty hanging over Wall Street may be clearing after the Senate made moves to prevent a possible partial shutdown of the U.S. government.

Past shutdowns have not been a huge deal for financial markets. But any reduction of uncertainty can be helpful when so much of it has been sending the U.S. stock market on big, scary swings not just day to day but also hour to hour.

To be sure, the heaviest uncertainty remains with Trump’s escalating trade war. There, the question is how much pain Trump will let the economy endure through and other policies in order to reshape the country and world as he wants. The president has said he wants manufacturing jobs back in the United States, along with a smaller U.S. government workforce and other fundamental changes.

While stock prices may be close to finishing their reset to account for tariffs set to hit in April, Ma said concerns about how big an impact cutbacks in federal spending will have on the are “likely to remain for some time.”

U.S. households and businesses have already reported drops in confidence because of all the uncertainties created by Trump’s barrage of on -again, off -again tariff announcements and other policies. That’s raised fears about a pullback in that could sap energy from the economy.

Worries look to be only worsening among U.S. households, according to a preliminary survey released Friday by the University of Michigan. Its measure of sentiment sank for a third straight month, mostly because of concerns about the future rather than complaints about the present. The job market and overall economy look relatively solid at the moment.

“Many consumers cited the high level of uncertainty around policy and other economic factors,” according to Joanne Hsu, direct of the survey, and “frequent gyrations in economic policies make it very difficult for consumers to plan for the future, regardless of one’s policy preferences.”

Such fears have Wall Street focused on whether companies are seeing the souring mood of consumers translating into real pain for their businesses.

Ulta Beauty jumped 13.7% after the beauty products retailer reported stronger profit for the latest quarter than analysts expected.

The company’s forecasts for upcoming revenue and profit fell short of analysts’ targets, but Chief Financial Officer Paula Oyibo said it wanted to be cautious “as we navigate ongoing consumer uncertainty.” Analysts said the forecasts appeared better than feared.

Gains for Big Tech stocks and companies in the artificial-intelligence industry also helped support the market. Such stocks have been under the most pressure in the recent sell-off after critics said their prices shot too high in the frenzy around AI.

Nvidia rose 5.3% to trim its loss for 2025 so far below 10%. Apple climbed 1.8% to pare its loss for the week, which at one point had been on pace to be its worst since the 2020 COVID .

All told, the S&P 500 rose 117.42 points to 5,638.94. The Dow Jones Industrial Average climbed 674.62 to 41,488.19, and the Nasdaq composite rallied 451.07 to 17,754.09.

In stock markets abroad, indexes rose across much of Europe and Asia.

Stocks jumped 2.1% in Hong Kong and 1.8% in Shanghai after China’s National Financial Regulatory Administration issued a notice ordering financial institutions to help develop consumer finance and encourage use of credit cards, do more to aid borrowers who run into trouble and be more transparent in their lending practices.

Economists say China needs consumers to spend more to get the economy out of its doldrums, although most have advocated broader, more fundamental reforms.

In the bond market, Treasury yields rose to recover some of their sharp recent losses. The yield on the 10-year Treasury climbed to 4.31% from 4.27% late Thursday and from 4.16% at the start of last week.

Yields have been swinging since January, when the 10-year yield was approaching 4.80%. When worries worsen about the U.S. economy’s strength, yields have fallen. When those worries lessen, or when concerns about inflation rise, yields have climbed.

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AP Business Writers Matt Ott and Elaine Kurtenbach contributed.

Trump probes lumber, timber imports for potential tariffs; names furniture as derivative product

WASHINGTON – Does the U.S.’ reliance on imported lumber and constitute a threat to national security? That’s what the Trump Administration aims to find out through a new executive order.

“The wood products industry – composed of timber, lumber, and their derivative products (such as paper products, , and cabinetry) – is a critical manufacturing industry essential to the national security, economic strength and industrial resilience of the United States,” the order states. “This industry plays a vital role in key downstream civilian industries, including construction.”

Specifically, the order directs Secretary of Commerce Howard Lutnik to investigate whether imports of timber and lumber and their derivative products threaten national security; recommend actions to mitigate such threats, including potential , export controls or incentives to increase domestic production; and recommend policies to strengthen U.S. timber and lumber production through strategic investments and “permitting reforms.”

Lutnik has until Nov. 26 to conclude his investigation.

Trump says the U.S. has ample timber resources, citing that the softwood lumber industry “has the practical production capacity to supply 95%” of the country’s 2024 softwood consumption, yet has remained a net importer since 2016.

The order goes on to define timber as wood that has not yet been processed and lumber as wood that’s been processed, including wood that’s been milled and cut into boards and planks.

The order follows a similar probe into the copper industry, as well as widespread 25% tariffs on steel and aluminum, which also were implemented out of concern over national security.

FTC reverses its request for a delay in an Amazon trial, says it has resources to litigate the case

A lawyer for the has walked back his comments about a lack of resources and staff turnover interfering with the agency’s preparations for a trial involving ‘s Prime program.

lawyer Jonathan Cohen asked a federal judge during a hearing on Wednesday to delay the September trial and relax deadlines in the case, citing budgetary and staffing shortfalls. But Cohen did an about-face later in the day, telling a U.S. District judge in a brief letter that the statements he made in court were incorrect. In a statement sent to The Associated Press on Thursday, FTC Chair Andrew Ferguson also said “the attorney was wrong.”

A lawyer for the Federal Commission has walked back his comments about a lack of resources and staff turnover interfering with the agency’s preparations for a trial involving Amazon’s Prime program.

FTC lawyer Jonathan Cohen asked a federal judge during a hearing on Wednesday to delay the September trial and relax deadlines in the case, citing budgetary and staffing shortfalls.

But Cohen did an about-face later in the day, telling U.S. District Judge John Chun in a brief letter that the statements he made in court were incorrect.

“I want to clarify comments I made today: I was wrong,” Cohen wrote in the letter. “The commission does not have resource constraints and we are fully prepared to litigate this case.”

In a statement sent to The Associated Press on Thursday, FTC Chair Andrew Ferguson also said “the attorney was wrong.”

“I have made it clear since Day 1 that we will commit the resources necessary for this case,” Ferguson said, adding that the FTC “will never back down from taking on Big Tech.”

An Amazon spokesperson declined to comment on the agency’s reversal.

Cohen made his original comments while seeking to postpone a trial stemming from a Federal Trade Commission lawsuit that accused Amazon of enrolling consumers in its Prime program without their consent and making it difficult for them to cancel their subscriptions.

With the request coming amid the cost-cutting efforts driven by ‘s Department of Government Efficiency, or , the judge asked if budget and staff reductions at federal agencies had affected the FTC’s readiness.

Cohen said some employees chose to leave the FTC following the “Fork in the road” email sent by the administration in January. Staff members who resigned for other reasons also have not been replaced due to a government hiring freeze, he said.

He also cited restrictive rules on purchasing court documents and travel.

Completed home sales decrease in Feb. for NoVa, Hampton Roads

Housing sales in February decreased year-over-year in and . Inventory and median selling prices increased in both regions.

Northern Virginia

Closed sales in Northern Virginia decreased year-over-year in February, according to data released March 11. The median home price and active listings rose compared to the same month in 2024.

Last month, 937 sold in Northern Virginia, an 8.1% decrease from February 2024. New pending sales fell 6.7% from February 2024, to 1,098 units.

However, inventory in February sharply increased, according to .  The month’s supply of inventory (MSI) — a measure of how many months there would be homes on the if no new inventory were added — increased to 1.12, up 29% from the same month last year.

There were 1,520 active listings on the Northern Virginia market in February, up 31.8% year-over-year. New listings, though, totaled 1,207 units, a 3.83% decrease over the same month in 2024.

“The increase in active listings is an encouraging development for prospective homebuyers who have been faced with limited options in recent years,” Casey Menish, NVAR President and a Realtor with Pearson Smith Realty, stated in a news release. “A boost in inventory not only helps create a more balanced market but also opens doors for buyers who may have been sidelined by fierce competition or rising prices. This shift could provide much-needed opportunities for those eager to make their move.”

Homes spent an average of 22 days on the market last month, the same as the previous year.

The median sold price last month was $732,750, up 6.6% compared with February 2024.

A chart visualizes NoVA
February 2025 housing market statistics for Northern Virginia. Image courtesy Northern Virginia Association of Realtors

“The Northern Virginia market is adjusting to changing economic conditions, with buyers and sellers navigating shifts in affordability and inventory,” Ryan McLaughlin, CEO of NVAR, said in a statement. “While closed sales have slowed, the steady median home price suggests ongoing demand for well-priced properties.”

Leaders in the industry continue to watch to see whether in the federal workforce will affect the area’s housing market.

“While speculation continues about the impact of changes in the federal workforce on the local housing market, it remains to be seen how these shifts will fully influence demand and market trends,” McLaughlin stated. “As we continue to monitor the situation, we remain focused on broader economic factors shaping the market.”

NVAR reports home sales activity for Fairfax and Arlington counties, the cities of Alexandria, Fairfax and Falls Church, and the towns of Vienna, Herndon and Clifton.

Hampton Roads

Housing sales in Hampton Roads dropped year-over-year in February; however, inventory increased, according to data released March 10 by the Information Network ().

Closed home sales in the region totaled 1,551 last month, down 9.25% from the 1,709 closed sales recorded in February 2024; although, that was an increase from the 1,389 closed sales recorded in January 2025.

Graphic with details of Hampton Roads' real estate market in February 2025
February 2025 housing market data for Hampton Roads. Image courtesy

There were 1,875 pending sales February, down from 2,040 in the same month last year but up from 1,748 in January.

Active listings totaled 4,340 in February — a 21.6% increase year-over-year in homes for sale. In February 2024, there were 3,568 active listings, and in January there were 4,366 active listings. The MSI stood at 2.12, the same as it was in January. The MSI was 1.73 in February 2024.

The median sales price in Hampton Roads was $345,000 in February, up from $327,500 in February 2024 and $340,000 in January.

Homes spent a median of 28 days on the market in February, a six day increase over February 2024 and a one-day increase over January.

“The number of active listings is up nearly 22% from the same month last year,” said REIN Board President Barbara Wolcott of Berkshire Hathaway Home Services RW Towne Realty. “When consumers have more choices, they don’t feel quite as much pressure to make a quick decision.”

Founded in 1969, REIN is a regional multiple listing service that covers an area stretching from Williamsburg east to Virginia Beach and south across the North Carolina border.

Average US rate on a 30-year mortgage edges higher, ending a seven-week slide

The average rate on a 30-year in the U.S. edged higher this week, ending a seven-week slide that helped ease borrowing costs for home shoppers just in time for the spring season. The average rate rose to 6.65% from 6.63% last week, mortgage buyer Freddie Mac said Thursday, March 13.

A year ago, it averaged 6.74%. After climbing to just above 7% in mid-January, the average rate has been declining, echoing moves in the 10-year Treasury yield, which lenders use as a guide to pricing home loans. However, the pullback in hasn’t improved the affordability equation for many would-be homebuyers, keeping the housing in a sales slump.

The average rate on a 30-year mortgage in the U.S. edged higher this week, ending a seven-week slide that helped ease borrowing costs for home shoppers leading into the spring homebuying season.

The rate averaged 6.65% this week, up from 6.63% last week, mortgage buyer Freddie Mac said Thursday. A year ago, it averaged 6.74%.

Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners seeking to refinance their home loan to a lower rate, also ticked up this week. The average rate rose to 5.8% from 5.79% last week. A year ago, it averaged 6.16%, Freddie Mac said.

Mortgage rates are influenced by several factors, including bond market investors’ expectations for future inflation, global demand for U.S. Treasurys and the ‘s interest rate policy decisions.

After climbing to just above 7% in mid-January, the average rate on a 30-year mortgage declined through last week, echoing moves in the 10-year Treasury yield, which lenders use as a guide to pricing home loans.

The yield, which was approaching 4.8% in mid-January, has been mostly falling since then, reflecting worries about the ‘s growth and the fallout from the Trump administration’s decision to impose on imported goods from many of the nation’s key partners. The yield was at 4.31% in midday trading Thursday.

Tariffs can drive inflation higher, which could translate into higher yields on the 10-year Treasury note, pushing up mortgage rates. That’s because bond investors demand higher returns as long as inflation remains elevated.

On Thursday, the Labor Department said that U.S. wholesale inflation last month was milder than economists expected. That followed a similarly encouraging report from the day before showing inflation at the level slowed in February for the first time since September.

Still, the Fed, which is scheduled to give its latest interest rate policy update next Wednesday, has signaled that it intends to take a more cautious approach as it gauges where inflation is headed and what impact the Trump administration’s policies on trade, taxes and other fronts will have on the economy.

So far, the pullback in rates hasn’t improved the affordability equation for many would-be homebuyers, keeping the housing market in a sales slump.
Still, as rates have eased in recent weeks, more would-be homebuyers have been applying for a home loan.

Last week, mortgage applications jumped 11.2% from the previous week and 31% compared to a year earlier, according to the Mortgage Bankers Association. And a measure of home loan refinancing applications surged 16%, the MBA said.

While a pickup in mortgage applications is typical for this time of year, the sharp increase suggests the pullback in mortgage rates is encouraging would-be homebuyers.

Home shoppers who can afford to buy at current home loan rates or to sidestep them entirely by paying cash also stand to benefit from a wider selection of properties on the market. The inventory of for sale has risen sharply from a year ago and prices are rising more slowly nationally and declining in many metropolitan areas, such as Austin, Dallas and Tampa, Florida.

“The combination of modestly lower mortgage rates and improving inventory is a positive sign for homebuyers in this critical spring homebuying season,” said Sam Khater, Freddie Mac’s chief economist.