Home | Newsletter | Advertise
loading...

DC Area Home Prices Increase 9 Percent

  • June 4th 2010

by Mark Wellborn

✉️ Want to forward this article? Click here.

The Washington Examiner is reporting that home prices in the DC area “soared about 9 percent” between May 2009 and May 2010.

The latest data comes from a report released by real estate analytics company Clear Capital. To be exact, home prices in the area increased 9.3 percent over the last 12 months and they rose 6.8 percent nationally, the biggest jump since July 2006, according to The Examiner.

Prices in the area have been increasing consistently over the last year as the number of bank-owned homes have been decreasing. From The Examiner:

The Washington area has seen continual price improvement over the last four quarters, said Alex Villacorta, senior statistician for Clear Capital.

“It’s pretty interesting and encouraging to see” that kind of stabilization in the Washington area, he said.

Indeed, mortgage rates holding near record lows, combined with the expiration of the expanded homebuyers’ tax credit in April, have helped propel the market in recent months.

The percentage of bank-owned sales are dropping in the Washington area, Villacorta said — another positive sign for the market. For the period ending in May, bank sales comprised 20 percent, vs. about 37 percent at its worst levels, he said.

To read the full article, click here.

See other articles related to: dc area market trends, dc home prices, dclofts

This article originally published at https://dc.urbanturf.com/articles/blog/dc_area_home_prices_increase_9_percent/2137.

DC Real Estate Guides

Short guides to navigating the DC-area real estate market

We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!

First-Timer Primers

Intro guides for first-time home buyers

Red Flags Revealed During a Home Inspection Top 5 Tax Breaks For Homeowners Tax Relief for DC Homeowners
Condo Fee Tutorial What is a Rent Back? 10 Ways To Tell If a Home Renovation is Well Done
Obtaining a Basic Business License For Your Rental What is an Adjustable Rate Mortgage? The Splitting the Rent Formula
How Much Cash Do You Need to Buy a House? Is This Condo Building Financially Healthy? Interest Rates and Mortgage Points
The Scoop on Mortgage Insurance

Unique Spaces

Awesome and unusual real estate from across the DC Metro

The Most Intriguing Loft in DC The R Street Firehouse DC’s One-Room House
Dupont Circle’s Old Frat House To Become Alley Home Best Transition From a Garage To a Home The Roundhouse
Tilden Gardens Restaurant-Turned-Home Hits Market Next Week Logan Circle’s Most Intriguing Garage Frank Lloyd Wright Goes Green in Kensington
Sears Bungalow Gets a Modern Makeover Old Town General Store Becomes Three-Level Home Making the Most of a Skinny House
A Studio 27 Renovation on Capitol Hill Once a Carriage House, Now a Home The Bank that Became a Home
From Pie to Hooch to Heroin to Home The Live-Aboards of Gangplank Marina A Treehouse with Rock Creek Park As A Backyard
Modern Tranquility in Sperryville Saddle Up For Stable Living Throwing a Curve at 550 Square Feet
A Modern Hilltop Retreat Tilden Street Restaurant Becomes Spacious Home Focus on Design: A Vastu Unit at 22 West
The DC Area’s First Net Zero Home A Yankee Goes Green DC’s First Carbon Neutral Home
Eco-Friendly Alley House Off H Street The Gym, The Stables and The Firehouse