Wednesday, August 15, 2012

Washington Housing Market Data: July 2012

In July 2012 five housing reports were released which included statistics on the Washington Metro Area housing market.  Although each analysis employs differing methodologies with varying results, all show the Washington Area to be one of the stronger housing markets nationwide.

For more information on how to interpret sales statistics check out my recent blog post How to Evaluate Housing Reports which discusses important differences in research methodology and how it impacts numbers for the local Washington area.

July 31

Standard & Poor's/Case-Shiller Home Price Index -- reporting data through May 2012 -- was released July 31. In the Washington region home prices increased 2.8% from May 2011. Nationwide, home prices fell annually by 1.0% for the 10-City Composite and by 0.7% for the 20-City Composite versus May 2011.

July 27

Delta Associates Washington Area Housing Outlook for 2nd quarter 2012 was released July 27. Second quarter prices rose 5.4% over last year, sales volume increased 9.2%. The average selling price in the 2nd quarter of 2012 is 98.1% of list price -- the highest since 3rd quarter 2005. The housing market at mid-year 2012 in the Washington Metro Area appears to be in full recovery.

July 10

The Real Estate Business Intelligence (RBI) analysis of the DC metro area housing market -- with data through June 2012 -- was released July 10. Compared to June 2011 sales are up 5.7%, inventory has fallen 33.2%. Low housing inventory has put an upward pressure on prices -- the median sales price rose 5.3% over June of last year.

July 10

The latest Clear Capital Home Data Index Market Report -- with data through June 2012 -- was released July 10. Washington-Arlington-Alexandria ranked 6th out of the 15 highest performing housing markets nationwide. Home prices in the DC area rose 10.1% over June 2011, compared to a nationwide gain of 1.7%.

July 5

Delta Associates Washington Condominium Market Overview was released July 5. Condo resale prices increased 8.5% from June of last year while inventory remains low. Sales are up 36% over the quarterly average in 2011. The strongest condo sales were in the Capital East market — which includes the H Street corridor.

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Contact me for more information on our local real estate market, and on buying or selling a home. I'm always available for your questions and happy to consult with you on your real estate needs.

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