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Case-Shiller: News is Good (For Now)

  • March 30th 2010

by Mark Wellborn

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The latest data from the Case-Shiller Home Price Index included hopeful data about both the national and local DC housing markets. The two key takeaways are:

  • Home prices showed the smallest annual decline in almost three years in January. Although prices were flat in many of the metropolitan areas covered by the Case-Shiller Index, prices overall marked the lowest annual decline since January 2007.

  • Home prices rose in the DC area. To buyers this is not seen as good news, but for the market in general it bodes well. Compared to December, median prices in the area rose 0.2 percent, the ninth price increase in the metro area in the last 10 months.

Don’t go breaking out the champagne just yet, though. Experts are predicting that prices and home-buying activity will likely drop off notably in the second half of the year after the tax credit expires.

Below is the latest chart for the markets measured by Case-Shiller:

Case-Shiller: News is Good (For Now): Figure 1

See other articles related to: case-shiller, dc area market trends, dc home prices

This article originally published at https://dc.urbanturf.com/articles/blog/case_shiller_news_is_good_for_now/1928.

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