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Case Shiller Shows DC Area Home Prices Rising

by Mark Wellborn

The Case-Shiller Home Price Index was released today and the DC area has the highest home price gains in the country in April.

Median home prices increased 2.4 percent in the DC area between March and April 2010, and 7.3 percent from April 2009. Four other areas had better year-over-year gains, including San Francisco where prices increased 18 percent.

Note that the increase in prices does not mean that the housing market is out of the woods yet.

David Blitzer, chairman of Standard & Poor’s index committee, had the following insight:

“Inventory data and foreclosure activity have not shown any signs of improvement. Consistent and sustained boosts to economic growth from housing may have to wait to next year.”

See year-over-year numbers for the 20 metropolitan markets tracked by Case-Shiller below:

Case Shiller Shows DC Area Home Prices Rising: Figure 1

This article originally published at http://dc.urbanturf.com/articles/blog/case_shiller_shows_dc_area_home_prices_rising/2216

3 Comments

  1. JoJo said at 6:00 pm on Tuesday June 29, 2010:
    All the result of the tax credit. Now that it has expired, watch prices drop again.
  1. roots said at 10:27 pm on Wednesday June 30, 2010:
    We'll see about that. 8k is 8k but when you're dropping between 400-700k on a condo/rowhouse it's effect is minimized. You may be right but with interest rates .5% lower for both 15- and 30-year mortgages, you'll be making up that 8k and then some, albeit over 15 to 30 years 😉 I don't think we'll see 2% growth a month but I'm guessing DC (proper) won't see too much of a drop. Population growing and city gentrification will help alot. Just my opinion.
  1. jonny said at 5:36 pm on Thursday July 1, 2010:
    do we have anything more granular- -the dc area is huge

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