PMI: Home Prices Could Be Lower in 2011

Image courtesy of PMI Group
A report from mortgage insurer PMI Group shows that home prices may fall in many of the largest metropolitan areas in the U.S. (including the DC area) through the beginning of 2011.
According to the report, thirty of the 50 largest areas have at least a 75 percent chance of lower home prices through March 2011. The firm says that this is largely due to the rise in unemployment and foreclosure filings that the country has experienced in recent months.
The Washington area (including DC, Northern Virginia, Maryland and parts of West Virginia) showed a 92 percent chance of lower prices. For comparison, Baltimore has a 90 percent chance of home prices dropping, and New York City showed an 88 percent chance.
Fifteen areas in the country have a 99 percent probability of lower prices in 2011 including: Miami, Fort Lauderdale, West Palm Beach, Orlando, Tampa, Jacksonville, Riverside, Los Angeles, Santa Ana, Sacramento, San Diego, Las Vegas, Phoenix, Providence and Detroit.
Most Popular... This Week • Last 30 Days • Ever

For this week's price-guessing game of homes in other metropolitan areas, we head... read »
Neighborhood Profiles more »
Deanwood: A Little Bit of Country Just Inside the District’s Borders
Amanda Abrams
August 25th | 5 Comments
Located east of the Anacostia River and just inside the District’s northeast border, Deanwood has... read »
Editor's Choice more »
Despite Shrinking Inventory, Financing for Condo Projects Hard to Come By
Ryan Holeywell
August 27th | 3 Comments
Over the past several months, the dark cloud that has hung over the DC area condo market since it... read »
- Despite Shrinking Inventory, Financing for Condo Projects Hard to Come By
- DC Real Estate’s Real Unicorn: One-Bedroom Houses
- The Heartbroken Buyer Syndrome
- Georgetown Landmark General Store Back on Market
- Unique Spaces: Sears Bungalow Gets a Modern Makeover
New Condo Profiles more »
14th and S Street Residential Project Likely to be Condos
Mark Wellborn
August 24th | 2 Comments
14th and You recently posted a very comprehensive preview of the 125-unit residential project that... read »
The DC Condo Market more »
Despite Shrinking Inventory, Financing for Condo Projects Hard to Come By
Ryan Holeywell
August 27th | 3 Comments
Over the past several months, the dark cloud that has hung over the DC area condo market since it... read »
Green Real Estate more »
UrbanTurf Reader Asks: What Effect Will Adding Solar Panels Have on the Value of My Home?
Mark Wellborn
September 2nd | 3 Comments
In this week's installment of UrbanTurf Reader Asks, a reader wonders what the long-term benefits... read »
- UrbanTurf Reader Asks: What Effect Will Adding Solar Panels Have on the Value of My Home?
- Unique Spaces: Frank Lloyd Wright Goes Green in Kensington
- 14th and U to Go Green
- How Much Energy Do You Use? Microsoft Hohm Will Tell You
- Unique Spaces: A Studio 27 Renovation on Capitol Hill
Deal of the Week more »
Deal of the Week: 720 Square Feet on the Cheap in Dupont
Mark Wellborn
August 9th | 10 Comments
In this week's installment of Deal of the Week, we find a corner one-bedroom co-op in Dupont Circle... read »
- Deal of the Week: 720 Square Feet on the Cheap in Dupont
- Deal of the Week: BBQing in Columbia Heights
- Deal of the Week: A Price Per Square Foot Special in Logan Circle
- Deal of the Week: Buy This With a Friend
- Deal of the Week: All Renovated in Mount Pleasant
Renting more »
The Inside Scoop on The Newseum Residences
Carisa Chappell
September 1st | 4 Comments
The Newseum Residences at the corner of 6th Street and Pennsylvania Avenue NW cater to news... read »
- The Inside Scoop on The Newseum Residences
- Four Takes on Tenant Rights in DC
- CityVista V Apartments Sold
- The Kennedy-Warren: The “Old Lady” of Washington
- Amateur Landlord: Picking the Right Tenant
Condo Buyers more »
Metropole Has Five Units Remaining
Mark Wellborn
August 25th | 0 Comments
UrbanTurf recently learned that the Metropole condominium in Logan Circle has just five units left... read »
- Metropole Has Five Units Remaining
- 14th and S Street Residential Project Likely to be Condos
- Sponsored: 5 Tips for Buying a Condo in Fall 2010
- Potomac Station: Condos Just Upstairs From the Neighborhood Deli
- The Matisse: Not Your Average Boutique Condo
Unique Spaces more »
Old Town General Store Becomes Three-Level Home
Jennifer Sergent
August 16th | 5 Comments
In this installment of Unique Spaces, we head over to Old Town, Alexandria where a general store... read »
- Old Town General Store Becomes Three-Level Home
- Sears Bungalow Gets a Modern Makeover
- Frank Lloyd Wright Goes Green in Kensington
- Throwing a Curve at 550 Square Feet
- The Bank that Became a Home
DC Buyer more »
DC Physician Looking for Traditional Two-Bedroom Home
Martin Smith
August 6th | 12 Comments
In this week's DC Buyer, we are working with Nioke, a 32 year-old physician who currently rents in... read »
UrbanTurf Reader Asks more »
What Effect Will Adding Solar Panels Have on the Value of My Home?
Mark Wellborn
September 2nd | 3 Comments
In this week's installment of UrbanTurf Reader Asks, a reader wonders what the long-term benefits... read »
What X Buys You more »
What Does $625K Buy You in DC?
Rebecca Ortega
August 30th | 7 Comments
In place of Best New Listings this week, we look at properties in the $625,000 range to give... read »
Best New Listings more »
Best New Listings: End of August Edition (Week of Aug 23rd)
UrbanTurf Staff
August 23rd | 0 Comments
The end of August usually offers slim pickings in terms of new real estate hitting the market, but... read »
- Best New Listings: End of August Edition (Week of Aug 23rd)
- Best New Listings: Dupont Circle and Columbia Heights (Week of Aug 8th)
- Best New Listings: Mount Pleasant and Chevy Chase (Week of Aug 2nd)
- Best New Listings: The Numbered Streets Edition (Week of Jul 25th)
- Best New Listings: Adams Morgan and Capitol Hill (Week of Jul 19th)
Luxury Real Estate more »
$220 Million = World’s Most Expensive Home
Mark Wellborn
August 13th | 1 Comment
A home buyer recently paid the equivalent of $220 million for a six-bedroom penthouse in London,... read »


































































5 Comments
Refreshing to see some truth tellers out there.
Is there anything out there that just includes DC and not the “metro area?” I have to think home prices in the city proper are more stable than the suburbs.
If you go to the PMI website, they have a list of what they consider “declining markets” by zip code or state. Here’s the link: http://www.pmi-us.com/map/
Case-Schiller just reported the opposite and that home prices were ticking up.
Rob -
link?