Despite evidence that a historically strong year is in store for the legal industry, law firms headquartered in Washington, D.C., “underperformed” in the first half of 2024, as D.C. firms largely did not enjoy the benefits of the transactional market rebounding, while also losing market share to competitor firms.

Among D.C.-based firms, revenue was up 5.6% in the first six months of 2024, falling below the 11.4% revenue growth the industry saw overall, according to the Wells Fargo Legal Specialty Group’s six-month survey results. Those results included seven law firms in D.C., including six Am Law 100 firms and one firm in the Second Hundred.