The CoreLogic Market Pulse Report -- with data through February 2012 -- was released Wednesday, April 11th. The February report shows Washington area home prices rising over last year in both the city and greater metro area.
Home sales increased 11.5% nationwide over February 2011. Housing affordability is at levels not seen since before the early 90s -- almost twice the level it was in April 2006, which was the least affordable point in two decades. Home prices are forecasted to drop 1.5-2% through March, then increase by mid-summer making up for losses earlier in the year.
The CoreLogic methodology shows the following changes in the Washington area housing market between February 2011 and February 2012:
- sales up 41.6% over February 2011
- prices up 1.6% over last year
- distressed sales comprise only 8.7% of the DC market
Core Based Statistical Area (CBSA)
- sales up 9.6% over February 2011
- prices up 0.2%
- distressed sales comprise 26.9% of the metro market
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