DC, MD, VA Open Houses: September 22-23

 

In the hyperlinks below I've attached open houses scheduled in MRIS this weekend for DC, Arlington, Alexandria, and the close-in Montgomery County suburbs.

• All results are sorted in order of list price for easy reference.
• Globe and camera icons next to individual listings show maps and photos.
• All property types are included: condos/coops, single-family homes, townhouses, semi-detached homes, etc.

Washington, DC

• Saturday, September 22 - 42 opens
• Sunday, September 23 - 289 opens

Arlington

• Saturday, September 22 - 7 opens
• Sunday, September 23 - 84 opens

Alexandria

• Saturday, September 22 - 6 opens
• Sunday, September 23 - 80 opens

Montgomery County
Bethesda, Chevy Chase, Potomac, Rockville, Silver Spring, Takoma Park

• Saturday, September 22 - 41 opens
• Sunday, September 23 - 214 opens

Washington Housing Market Data

September 10: The Real Estate Business Intelligence report on the DC Metro Area -- with data through August 2012 -- was released September 10. RBI methodology shows DC Metro home prices increased 8.1% over August 2011, sales rose 6.4%.


September 5: The latest Clear Capital Home Data Index Market Report -- with data through August 2012 -- was released September 5. Clear Capital methodology shows DC, Arlington, and Alexandria home prices rose 12.4% over August 2011. By comparison U.S. home prices increased 2.9%.


September 4: The CoreLogic Home Price Index -- reporting data through July 2012 -- was released September 4. CoreLogic methodology shows DC home prices rose 5.8% over July 2011, DC Metro Area prices increased 4.5%. Nationwide home prices rose 3.8%.


August 28: The latest Standard & Poor's/Case-Shiller Home Price Index -- reporting data through June 2012 -- was released August 28. S&P methodology shows DC Metro Area home prices increased 3.9% over June 2011 compared to a nationwide increase of 1.2%.


August 28: The CoreLogic® National Foreclosure Report -- with data through July 2012 -- was released August 28. Washington has the 2nd lowest foreclosure rate nationwide. The District's foreclosure inventory is 2.2%.


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.

* * *

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.

Ben Dursch

202-288-4334 | Ben@EversCo.com

HStreetAgent@blogspot.com

Freddie Mac: Mortgage Rates Back to Record Lows

Freddie Mac's weekly Primary Mortgage Market Survey -- released September 20 -- showing fixed mortgage rates at or near their all-time record lows helping keep homebuyer affordability high.

• 30-Year fixed rate mortgage averaged 3.49%, down from 3.55% last week and 4.09% one year ago

• 15-Year fixed rate mortgage averaged 2.77%, down from 2.85% last week and 3.29% one year ago

Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Borrowers may still pay closing costs which are not included in the survey.

To compare and track average mortgage rates from previous weeks throughout the year consult Freddie Mac's Compilation of Weekly Survey Data for 2012.

Mortgage calculators to compare payments and equity:

• Freddie Mac
• Bankrate.com
• The Federal Reserve Board

Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders.

NAR: August Existing-Home Sales and Prices Rise

The National Association of Realtors existing home sales report -- with data through August 2012 -- was released September 19.

 

Existing-home sales are completed transactions for the month prior; new construction is excluded from review. Data includes all property types: single-family homes, townhomes, condominiums and co-ops.

 

U.S. Home Sales

Total existing-home sales nationwide, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops are 9.3% higher than August 2011.  The national median existing-home price for all housing types was $187,400 in August, up 9.5% from a year ago.

Single-family homes:

• sales rose 10% above August 2011
• median existing home price was $188,700 in August, up 10.2% from a year ago

Condominiums and co-ops:

• sales are 4.0% above the August of last year
• median existing condo price was $176,700 in August, which is 3.3% higher than August 2011

Regional Home Sales

  

• Northeast - Existing-home sales are 8.6% above August 2011. The median price in the Northeast was $245,200, up 0.6% from a year ago.
  
  
• Midwest - Sales are 17.9% higher than August 2011 and increased 2.0% from June to July. The median price in the Midwest was $152,400, up 7.8% from August 2011.
  
  
• South - Sales are 11.1% above August 2011. The median price in the region was $160,100, up 6.5% from a year ago.
  
  
• West - Existing-home sales in the West increased 8.3% from July to August but are unchanged from a year ago. With ongoing inventory shortages, the median price in the West was $242,000, which is 16.3% higher than August 2011.

 

 

Local Perspective: DC Metro Area

 

 

The RealEstate Business Intelligence report -- with data through August 2012 -- was released September 10.

• At $385,000, the median home price in the DC metro area is 8.1% higher than August 2011. This is the seventh consecutive year-over-year increase for home prices, which is being driven by strong demand and consistently low inventories.
  
  
• There were 4,062 sales in August in the Washington DC Metro Area, a 6.4% increase from this time last year, and the fifth consecutive year-over-year gain.
  
  
• There were 4,482 new contracts signed in August in the metro area, up 7.5% from this time last year.
  
  
• Housing inventory is 35.8% below this time last year, the lowest August-level since 2004.
  
  
• The low inventory of homes for sale is driving down the median days on market, which at 26 days is 11 days below August 2011. The sales-to-list price ratio has also been impacted by the low supply, and is up to 96.2% from 94.2% a year ago.

* * *

 

 

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.

Ben Dursch

202-288-4334 | Ben@EversCo.com

HStreetAgent@blogspot.com

MBA: Mortgage Rates Drop to New Survey Lows

The Weekly Mortgage Application Survey of the Mortgage Bankers Association -- with data for the week ending September 14, 2012 -- was released September 19.

Application Volume
 

• The Market Composite Index, a measure of mortgage loan application volume, decreased 0.2% on a seasonally adjusted basis from one week earlier.  On an unadjusted basis, the Index increased 24% compared with the previous week, which included the Labor Day holiday.
  
  
• The Refinance Index increased 1% from the previous week.
  
  
• The seasonally adjusted Purchase Index decreased 4% from one week earlier. The unadjusted Purchase Index increased 18% compared with the previous week and was 8% higher than the same week one year ago..

Interest Rates

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,500 or less) decreased to 3.72%, the lowest rate in the history of the survey.

The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $417,500) decreased to 3.99% from 4.00%.

The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA remained unchanged at 3.50%, matching the lowest rate in the history of the survey.

The average contract interest rate for 15-year fixed-rate mortgages decreased to 3.03%, the lowest rate in the history of the survey.

* * *

The Mortgage Bankers Association (MBA) is the national association representing the real estate finance industry. Its membership of over 2,200 companies includes all elements of real estate finance: mortgage companies, mortgage brokers, commercial banks, thrifts, Wall Street conduits, life insurance companies and others in the mortgage lending field.

For additional information, visit MBA's web site: www.mortgagebankers.org.

Weekly Newsletter: September 9-15

My latest DC real estate newsletter for the week of September 9-15 contains the following updates on the local Washington Area housing market:

• DC *Metro Area* home prices increased 8.1%, sales rose 6.4%, contracts are up 7.5% over August of last year.
  
  
• Buyer's Market? Northern, VA couple sees 70 properties, make 10 offers and finally go under contract.
  
  
• Mortgage rates hold steady, remaining near all-time lows.

For additional recent reports consult my newsletter archive. For updates throughout the week check out my Twitter feed. There you will find the latest information on Washington area real estate news including:

• market statistics
• sales figures
• new developments and projects
• buyer/seller advice

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.

  Ben Dursch  

 

202-288-4334 |  Ben@EversCo.com

 

HStreetAgent@blogspot.com

 

 

 

 

 

H Street Open Houses: September 15-16

 

Catch some open houses and the H Street Festival Saturday!

 

 

  

In the hyperlinks below I've attached open houses scheduled in and around H Street for the weekend of September 15-16, 2012.

• All results are sorted in order of list price for easy reference.


• Globe and camera icons next to individual listings show maps and photos.


• All property types are included: townhouses, semi-detached homes, condos/coops, single-family homes, etc.

Need more? I've also compiled a list of all DC, MD, VA open houses this weekend should your search parameters encompass other areas.


H Street

• Saturday, September 15 - 2 opens
• Sunday, September 16 - 11 opens

Bloomingdale,Truxton Circle, and Eckington

• Sunday, September 16 - 9 opens

Washington Housing Market Data

September 10: The Real Estate Business Intelligence report on the DC Metro Area -- with data through August 2012 -- was released September 10.  RBI methodology shows DC Metro home prices increased 8.1% over August 2011, sales rose 6.4%.


September 5: The latest Clear Capital Home Data Index Market Report -- with data through August 2012 -- was released September 5. Clear Capital methodology shows DC, Arlington, and Alexandria home prices rose 12.4% over August 2011. By comparison U.S. home prices increased 2.9%.


September 4: The CoreLogic Home Price Index -- reporting data through July 2012 -- was released September 4. CoreLogic methodology shows DC home prices rose 5.8% over July 2011, DC Metro Area prices increased 4.5%. Nationwide home prices rose 3.8%.


August 28: The latest Standard & Poor's/Case-Shiller Home Price Index -- reporting data through June 2012 -- was released August 28. S&P methodology shows DC Metro Area home prices increased 3.9% over June 2011 compared to a nationwide increase of 1.2%.


August 28: The CoreLogic® National Foreclosure Report -- with data through July 2012 -- was released August 28. Washington has the 2nd lowest foreclosure rate nationwide. The District's foreclosure inventory is 2.2%.


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.

*     *     *

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.

   Ben Dursch  

 

202-288-4334  |  Ben@EversCo.com

 

HStreetAgent.blogspot.com

 

DC, MD, VA Open Houses: September 15-16

In the hyperlinks below I've attached open houses scheduled in MRIS this weekend for DC, Arlington, Alexandria, and the close-in Montgomery County suburbs.

• All results are sorted in order of list price for easy reference.
• Globe and camera icons next to individual listings show maps and photos.
• All property types are included: condos/coops, single-family homes, townhouses, semi-detached homes, etc.

Washington, DC

• Saturday, September 15 - 47 opens
• Sunday, September 16 - 306 opens

Arlington

• Saturday, September 15 - 10 opens
• Sunday, September 16 - 98 opens

Alexandria

• Saturday, September 15 - 9 opens
• Sunday, September 16 - 95 opens

Montgomery County
Bethesda, Chevy Chase, Potomac, Rockville, Silver Spring, Takoma Park

• Saturday, September 15 - 44 opens
• Sunday, September 16 - 205 opens

Washington Housing Market Data

September 10: The Real Estate Business Intelligence report on the DC Metro Area -- with data through August 2012 -- was released September 10. RBI methodology shows DC Metro home prices increased 8.1% over August 2011, sales rose 6.4%.


September 5: The latest Clear Capital Home Data Index Market Report -- with data through August 2012 -- was released September 5. Clear Capital methodology shows DC, Arlington, and Alexandria home prices rose 12.4% over August 2011. By comparison U.S. home prices increased 2.9%.


September 4: The CoreLogic Home Price Index -- reporting data through July 2012 -- was released September 4. CoreLogic methodology shows DC home prices rose 5.8% over July 2011, DC Metro Area prices increased 4.5%. Nationwide home prices rose 3.8%.


August 28: The latest Standard & Poor's/Case-Shiller Home Price Index -- reporting data through June 2012 -- was released August 28. S&P methodology shows DC Metro Area home prices increased 3.9% over June 2011 compared to a nationwide increase of 1.2%.


August 28: The CoreLogic® National Foreclosure Report -- with data through July 2012 -- was released August 28. Washington has the 2nd lowest foreclosure rate nationwide. The District's foreclosure inventory is 2.2%.


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.

* * *

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.