The latest Standard & Poor's/Case-Shiller Home Price Index -- reporting data through March 2012 -- was released May 29. S&P methodology shows the Washington region's housing market continues to perform above other markets nationwide.
Accurate local statistics for specific neighborhoods in Washington, DC and surrounding suburbs can be found at Real Estate Business Intelligence. RBI's latest report -- released May 10 -- is a more accurate picture of the Washington, DC Metro Area housing market.
Washington Metropolitan Statistical Area (MSA)
DC, Maryland, Virginia, West Virginia
- Standard & Poor's reports home prices in the Washington region rose 1.6% on a seasonally adjusted basis from February to March.
- Prices have dropped 0.6% from March 2011 compared to a nationwide drop of 1.9%.
- According to the S&P/Case-Shiller 2011 Year in Review -- released March 16th -- single-family home prices in Washington, DC increased 8.4% from market bottom in 2009 and are about 80% above their 2000 levels.
- The national composite fell by 2.0% in the first quarter of 2012 and was down 1.9% versus the first quarter of 2011.
- The 10- and 20-City Composites posted annual home price drops of -2.8% and -2.6% in March 2012.
When reviewing the S&P/Case-Shiller data keep in mind the following critical points:
- Property Status - The S&P/Case-Shiller Home Price Indices include statistics for distressed properties (i.e. foreclosures, short sales), skewing home prices lower.
- Report Date - These numbers are for March 2012. The S&P/Case-Shiller Home Price Indices are published on a 2-4 month lag to offset delays in sales price data from county deed recorders.
- Property Type - The index reports single-family/detached home prices only; condo and co-op sales statistics are not included in the analysis.
Washington Metropolitan Statistical Area Defined
S&P methodology defines the Washington metropolitan area as a large region including parts of three states and the District of Columbia:
- Washington, DC
- Maryland - Calvert, Charles, Frederick, Montgomery, and Prince Georges Counties
- Virginia - Alexandria City, Fairfax City, Falls Church City, Fredericksburg City, Manassas City, Manassas Park City; Arlington, Clarke, Fairfax, Fauquier, Loudoun, Prince William, Spotsylvania, Stafford, Warren Counties
- West Virginia - Jefferson County