Wednesday, April 11, 2012

CoreLogic Market Pulse Report

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:

Washington, DC

  • 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)
Washington-Arlington-Alexandria, DC-VA-MD-WV

  • sales up 9.6% over February 2011
  • prices up 0.2%
  • distressed sales comprise 26.9% of the metro market

CoreLogic is a leading provider of consumer, financial and property information, analytics and services to business and government. More than one million users rely on CoreLogic to assess risk, support underwriting, investment and marketing decisions, prevent fraud, and improve business performance in their daily operations.

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