Home Prices Continue to Fall in March, but Rate Slowing in DC
The Standard and Poor’s Case-Shiller Home Price Index for the month of March was released this morning and showed that home prices in the US continue to fall. In the first quarter, the national index dropped 19.1 percent from a year earlier, a larger than expected drop that is being attributed to a surge in foreclosures.
The monthly report showed that home prices in the twenty U.S. cities that the report covers fell at an annual rate of 18.7 percent between March 2008 and March 2009, just slightly higher than the 18.6 percent between February 2008 and February 2009.
However there was some good news for the DC area. In January, residential property prices in DC dropped 19.3 percent from the previous year, and in February that number dropped slightly to 19.2 percent. In what might be some of the only good news from the latest monthly report, the March percentage for DC fell almost a full point to 18.4 percent from a year ago.
This article originally published at https://dc.urbanturf.com/articles/blog/home_prices_continue_to_fall_in_march_but_rate_slowing_in_dc/952.
Most Popular... This Week • Last 30 Days • Ever
Roadside Development filed a sketch plan with Montgomery County this month for the 30... read »
While just a few months into the year, the prices per square foot around DC are start... read »
The Matthew is located on 9th Street, overlooking the iconic Naylor Court and neighbo... read »
Dan Snyder donates house to charity; DC records priciest building sale since 2022; an... read »
Things still looking doubtful for Alexandria arena; Dan Snyder pulls Potomac home off... read »
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
Unique Spaces
Awesome and unusual real estate from across the DC Metro