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

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