Saturday, May 12, 2012

Clear Capital: Washington Area Home Prices Up 4.7% Over April 2011

The latest Clear Capital Home Data Index Market Report -- with data through April 2012 -- was released May 1. The Index shows Washington area home prices rising over the previous month's index and last year, even as prices continue to decline nationwide.

Washington Area

The Washington Core Based Statistical Area (CBSA) -- which includes the District, Arlington, Alexandria -- report the following:

  • Washington metro home prices are up 4.7% over April 2011
  • local home prices rose 3.6% over the previous rolling quarter
  • for the 5th consecutive month DC-Arlington-Alexandria ranked in the top 5 Highest Performing Metro Markets in the country

  • home prices fell 1.0% from March 2011 -- an improvement over the -1.4% loss posted in April’s Market Report
  • prices dropped 0.2% from the previous rolling quarter

Long term trends are starting to reflect the shorter term improvements seen for the past two months, helping to confirm that housing prices appear to be flattening with a bottom in sight.  The nation lost a little ground with quarterly losses of -0.2%, showing continuing price stability over previous month’s reports.

For the past five months, price movement at the regional level has settled in under 1.0% (except the Midwest) on a quarterly basis, which is a level of stability not seen for a decade.  As the West, Northeast, and South are all in positive territory, significant losses in the Midwest are pulling down national numbers.

Clear Capital is a premium provider of data for real estate asset valuation and risk assessment for large financial services companies. The Company's customers include the largest U.S. banks, investment firms and other financial organizations.

Read the full report here.

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