NAR Pending Home Sales Rise 12.4% in July

The July 2012 Pending Home Sales Index of the National Association of Realtors was released August 29.

The Index tracks the number of properties under contract nationwide and by region. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

Lawrence Yun , NAR chief economist, said the index is at the highest level since April 2010, which was shortly before the closing deadline for the home buyer tax credit. "While the month-to-month movement has been uneven, more importantly we now have 15 consecutive months of year-over-year gains in contract activity," Yun said.

Nationwide

• Annually: contracts increased 12.4% over July 2011
• Monthly: contracts rose 2.4% from June to July

Region

• Northeast - July pending home sales were 13.4% higher than a year ago
• Midwest - the index is 20.2% above July 2011
• South - contracts are 15.6% above a year ago
• West - the index rose 1.3% higher than July 2011

The Pending Home Sales Index has continued to show a steady increase in contracts activity in 2012.

• June 2012 - contracts advanced 9.5% over June 2011
• May 2012 - contracts rose 13.3% over May 2011
• April 2012 - contracts increased 14.4% over April 2011
• March 2012 - a rise of 12.8% was reported over March 2011
• February 2012 - contracts jumped 9.2% over February 2011
• January 2012 - rose 8% over January 2011

Existing-home sales are projected to rise 8 to 9% in 2012, followed by another 7 to 8% gain in 2013. Home prices are expected to increase 10% cumulatively over the next two years.

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.

Freddie Mac: Mortgage Rates Ease Going Into Labor Day Weekend

Freddie Mac's weekly Primary Mortgage Market Survey -- released August 30 -- shows fixed mortgage rates pulling back and following bond yields lower after gradually moving higher over the past month.

• 30-Year fixed rate mortgage averaged 3.59%, down from 3.66% last week and down from 4.22% one year ago

• 15-Year fixed rate mortgage averaged 2.86%, down from 2.89% last week and down from 3.39% 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.

CoreLogic Foreclosure Report: July 2012

The CoreLogic® National Foreclosure Report -- with data through July 2012 -- was released August 28.  According to the July analysis, there were 58,000 completed foreclosures in the U.S. in July 2012 down from 69,000 in July 2011.

The five states with the lowest number of completed foreclosures for the 12 months ending in July 2012 were:

• South Dakota (32)
• District of Columbia (120)
• Hawaii (445)
• North Dakota (575)
• Maine (608)

 Local foreclosure inventory:

• Washington-Arlington-Alexandria, DC-VA-MD-WV - 2.6%
• District of Columbia - 2.2%
• Virginia - 1.3%
• Maryland - 4.5%

About CoreLogic

 

CoreLogic is a leading provider of consumer, financial and property information, analytics and services to business and government. More than one million users rely on CoreLogic to assess risk, support underwriting, investment and marketing decisions, prevent fraud, and improve business performance in their daily operations. The Company, headquartered in Santa Ana, Calif., has approximately 5,000 employees globally. For more information visit www.corelogic.com.

MBA: Weekly Mortgage Applications Survey

The latest Weekly Mortgage Application Survey of the Mortgage Bankers Association -- with data for the week ending August 24, 2012 -- was released August 29.

Application Volume

Changes between the weeks ending August 17 and August 24:

• The Market Composite Index decreased 4.3% on a seasonally adjusted basis from one week earlier.
  
  
• The seasonally adjusted Purchase Index increased more than 1% from one week earlier.
  
  
• The Refinance Index decreased 6% from the previous week to its lowest level since May 11, 2012.

Interest Rates

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,500 or less) decreased to 3.80% from 3.86%.

The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $417,500) decreased to 4.06% from 4.11%.

The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA decreased to 3.60% from 3.62%.

The average contract interest rate for 15-year fixed-rate mortgages decreased to 3.12% from 3.15%.

* * *

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.

S&P/Case-Shiller: June 2012

The latest Standard & Poor's/Case-Shiller Home Price Index -- reporting data through June 2012 -- was released August 28. The report shows the Washington region's housing market continues to perform above other markets nationwide.

Local statistics can be found at Real Estate Business Intelligence (RBI) which provides housing data for specific neighborhoods in Washington, DC and surrounding suburbs. RBI's latest report -- released August 10 -- provides a more specific picture of the Washington Metro Area housing market.

For a better understanding of how to interpret housing data from different reports take a look at my blog post How to Evaluate Housing Reports.

Washington Metropolitan Statistical Area (MSA)

DC, Maryland, Virginia, West Virginia - see description below

• S&P reports on an annual basis DC Metro Area home prices increased 3.9% from June 2011.
• On a monthly basis home prices in the Washington region rose 2.1% from May to June.
• 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.

Nationwide

The national composite was up 1.2% in the second quarter of 2012 versus the second quarter of 2011, and was up 6.9% versus the first quarter of 2012.

• The 10-City Composite posted annual returns of +0.1% over June 2011.  Month-over-month, average home prices in the 10-City Composite were up 2.2% from May to June.
• The 20-City Composite posted annual returns of +0.5% in June 2012 over last year.  On a monthly basis the 20-City Composite rose 2.3% from May to June.

Methodology

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 May 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 for the DC area.

Washington Metropolitan Statistical Area Defined

S&P methodology defines the Washington region as a vast "Metropolitan Statistical Area" stretching aross three states from West Virginia, through the District of Columbia, and into Maryland. Housing market statistics for such a vast area bear little relevance for an individual consumer seeking clarity on local home values. Below is the area described as Washington:

• 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

* * *

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.

Weekly Newsletter: August 19-25

 

 

My latest DC real estate newsletter for the week of August 19-25 contains the following updates on the local Washington Area housing market:

• National Association of Realtors reports U.S. existing home sales rose 9.4% over July 2011.
  
  
• Fairfax & Montgomery County home prices rising to unaffordable levels.
  
  
• FICO and CoreLogic launch new mortgage credit scoring system.
  
  
• Fixed mortgage rates move higher for 4th consecutive week.

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.

H Street Area Open Houses: August 25-26

 

In the hyperlinks below I've attached open houses scheduled in and around H Street for the weekend of August 25-26, 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

• Sunday, August 26 - 4 opens

Bloomingdale,Truxton Circle, and Eckington

• Saturday, August 25 - 2 opens
• Sunday, August 26 - 3 opens

Washington Housing Market Data

August 17: The RBI MarketWatch video housing report -- with data through July 2012 -- was released August 17. The July median sale price in DC of $457,500 is the highest on record for the city. Sales increased 7.8% over July 2011, the highest July total in 3 years. Contracts rose 4.8%, the highest July total in 7 years.


August 13: The most recent GCAAR Home Sales Statistics -- with data through July 2012 -- show remarkably low housing inventory has produced higher sales, most notably in the condo/coop markets for both DC and Montgomery County.


August 10: The Real Estate Business Intelligence (RBI) analysis of the DC Metro Area housing market -- with data through July 2012 -- was released August 10. Sales have increased 5.1% over July 2011, while prices are up 4.1%. Housing inventory is at its lowest in 7 years exerting an upward pressure on prices.


August 7: The latest Clear Capital Home Data Index Market Report -- with data through July 2012 -- was released August 7. Washington metro home prices rose 12.8% over July 2011 compared to growth of 2.2% nationwide.


August 7: The latest CoreLogic Home Price Index (HPI®) -- reporting data through June 2012 -- was released August 7. CoreLogic's methodology shows DC home prices rose 3.6% over last year. Nationwide home prices increased 2.5% over June 2011.


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 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.


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.

DC, MD, VA Open Houses: August 25-26

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, August 25 - 18 opens
• Sunday, August 26 -  157 opens

Arlington

• Saturday, August 25 - 5 opens
• Sunday, August 26 - 66 opens

Alexandria

• Saturday, August 25 - 4 opens
• Sunday, August 26 - 64 opens

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

• Saturday, August 25 - 33 opens
• Sunday, August 26 - 184 opens

Washingt0n Housing Market Data

August 17: The RBI MarketWatch video housing report -- with data through July 2012 -- was released August 17. The July median sale price in DC of $457,500 is the highest on record for the city. Sales increased 7.8% over July 2011, the highest July total in 3 years. Contracts rose 4.8%, the highest July total in 7 years.


August 13: The most recent GCAAR Home Sales Statistics -- with data through July 2012 -- show remarkably low housing inventory has produced higher sales, most notably in the condo/coop markets for both DC and Montgomery County.


August 10: The Real Estate Business Intelligence (RBI) analysis of the DC Metro Area housing market -- with data through July 2012 -- was released August 10. Sales have increased 5.1% over July 2011, while prices are up 4.1%. Housing inventory is at its lowest in 7 years exerting an upward pressure on prices.


August 10: The Real Estate Business Intelligence (RBI) analysis of the DC Metro Area housing market -- with data through July 2012 -- was released August 10. Sales have increased 5.1% over July 2011, while prices are up 4.1%. Housing inventory is at its lowest in 7 years exerting an upward pressure on prices.


August 7: The latest Clear Capital Home Data Index Market Report -- with data through July 2012 -- was released August 7. Washington metro home prices rose 12.8% over July 2011 compared to growth of 2.2% nationwide.


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. Next report due August 23.


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 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.


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.

Fixed Mortgage Rates Move Higher For Fourth Consecutive Week

Freddie Mac's weekly Primary Mortgage Market Survey -- released August 23 -- shows fixed mortgage rates following long-term Treasury yields higher amid continued positive data on the housing market. This marks the fourth straight week of fixed mortgage rates gradually moving higher.

• 30-Year fixed rate mortgage averaged 3.66% -- up from 3.62% last week, down from 4.22% one year ago

• 15-Year fixed rate mortgage averaged 2.89% -- up from 2.88% last week, down from 3.44% 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 Existing Home Sales: July 2012

 

 

The National Association of Realtors existing home sales report -- with data through July 2012 -- was released August 22.

 

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.

 

 

Nationwide

 

The national median existing-home price for all housing types was $187,300 in July, up 9.4% from a year ago.  The last time there were five back-to-back monthly price increases from a year earlier was in January to May of 2006.  The July gain was the strongest since January 2006 when the median price rose 10.2% from a year earlier.

Single-family home sales:

• increased 9.9% above July 2011
• rose 2.3% in July over June
• the median existing single-family home price was $188,100 in July, up 9.6% from a year ago

Condominium and co-op sales:

• increased 14% above July 2011
• rose 4.3% in July over June
• the median existing condo/coop home price was $180,700 in July, up 7.7% from a year ago

Region

• Northeast - Existing-home sales are 13.7% above July 2011 and rose 7.4% on a monthly basis from June to July.  The median price in the Northeast was $254,200, up 3.5% from a year ago.
  
  
• Midwest - Sales are 16.9% higher than July 2011 and increased 2.0% from June to July.  The median price in the Midwest was $154,100, up 5.8% from July 2011.
  
  
• South - Sales are 8.6% above July 2011 and rose 2.3% from June to July.  The median price in the region was $162,600, up 6.6% from a year ago.
  
  
• West - Existing-home sales in the West 5.9% higher than a year ago but unchanged on a monthly basis from June to July.  With pronounced inventory shortages, the median price in the West was $238,600, a jump of 24.5% from July 2011.

 

 

Local Perspective: DC Metro

RealEstate Business Intelligence housing data -- reporting data for July 2012 -- was released August 10.  RBI provides an excellent comparison between the national housing market and the Washington Metro Area:

 

• The median sale price for the entire DC Metro Area is the highest July-level in five years.  At $385,050, the median sale price rose 4.1% from this time last year, the sixth consecutive month of year-over-year price gains.
  
  
• In the District alone the median sales price reached $457,500 in July, topping a peak of $438,500 not seen since 2006.
  
  
• Sales in the Washington Metro Area increased 5.1% over July 2011, the fourth consecutive year-over-year gain.
  
  
• Active listings are at their lowest level in seven years which is also the lowest level for any month since August 2005. Low inventory continues to put upward pressure on prices, causing average days-on-market and sale-to-list ratios to tighten.
  
  
• Low housing inventory has resulted in homes selling faster: an average of 23 days.  This is the shortest July-level median days-on-market since 2005.

* * *

 

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.

 

 

 

MBA: Refinance Applications Decline as Rates Increase

The latest Weekly Mortgage Application Survey of the Mortgage Bankers Association -- with data for the week ending August 17, 2012 -- was released August 22.

Application Volume

Changes between the weeks ending August 10 and August 17:

• The Market Composite Index decreased 7.4% on a seasonally adjusted basis from one week earlier.  On an unadjusted basis, the Index decreased 8% compared with the previous week.
  
  
• The Refinance Index decreased 9% from the previous week to the lowest level since early July.
  
  
• The seasonally adjusted Purchase Index increased 0.9% from one week earlier. The unadjusted Purchase Index decreased 0.9% compared with the previous week and was 3.0% 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) increased to 3.86%.

The average rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $417,500) increased to 4.11% from 4.03%.

The average rate for 30-year fixed-rate FHA mortgages increased to 3.62% from 3.53%.

The average contract interest rate for 15-year fixed-rate mortgages increased to 3.15% from 3.12%.

* * *

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: August 12-18

My latest DC real estate newsletter for the week of August 12-18 contains the following updates on the local Washington Area housing market:

• RBI reports DC's July median sale price of $457,500 is the highest on record for the city. Sales increased 7.8% over July 2011, the highest July total in 3 years. Contracts rose 4.8%.
  
  
• Delta Associates reports Washington prices return to bubble era.
  
  
• Condo prices have been up every month since March, and in July the average condo price in the Washington metro area was $310,000, nearly 9% higher than a year ago.
  
  
• Fixed mortgage rates move higher.

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.

H Street Area Open Houses: August 18-19

 

In the hyperlinks below I've attached open houses scheduled in and around H Street for the weekend of August 18-19, 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, August 18 - 2 opens
• Sunday, August 19 - 5 opens

Bloomingdale,Truxton Circle, and Eckington

• Saturday, August 18 - 3 opens
• Sunday, August 19 - 6 opens

Washington Housing Market Data

August 17: The RBI MarketWatch video housing report -- with data through July 2012 -- was released August 17. The July median sale price in DC of $457,500 is the highest on record for the city. Sales increased 7.8% over July 2011, the highest July total in 3 years. Contracts rose 4.8%, the highest July total in 7 years.


August 13: The most recent GCAAR Home Sales Statistics -- with data through July 2012 -- show remarkably low housing inventory has produced higher sales, most notably in the condo/coop markets for both DC and Montgomery County.


August 10: The Real Estate Business Intelligence (RBI) analysis of the DC Metro Area housing market -- with data through July 2012 -- was released August 10. Sales have increased 5.1% over July 2011, while prices are up 4.1%. Housing inventory is at its lowest in 7 years exerting an upward pressure on prices.


August 7: The latest Clear Capital Home Data Index Market Report -- with data through July 2012 -- was released August 7. Washington metro home prices rose 12.8% over July 2011 compared to growth of 2.2% nationwide.


August 7: The latest CoreLogic Home Price Index (HPI®) -- reporting data through June 2012 -- was released August 7. CoreLogic's methodology shows DC home prices rose 3.6% over last year. Nationwide home prices increased 2.5% over June 2011.


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 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.


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.

DC, MD, VA Open Houses: August 18-19

In the hyperlinks below I've attached open houses scheduled this weekend in 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, August 18 - 26 opens
• Sunday, August 19 - 163 opens

Arlington

• Saturday, August 18 - 8 opens
• Sunday, August 19 - 75 opens

Alexandria

• Saturday, August 18 - 4 opens
• Sunday, August 19 - 62 opens

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

• Saturday, August 18 - 33 opens
• Sunday, August 19 - 142 opens

Washingt0n Housing Market Data

August 17: The RBI MarketWatch video housing report -- with data through July 2012 -- was released August 17. The July median sale price in DC of $457,500 is the highest on record for the city. Sales increased 7.8% over July 2011, the highest July total in 3 years. Contracts rose 4.8%, the highest July total in 7 years.


August 13: The most recent GCAAR Home Sales Statistics -- with data through July 2012 -- show remarkably low housing inventory has produced higher sales, most notably in the condo/coop markets for both DC and Montgomery County.


August 10: The Real Estate Business Intelligence (RBI) analysis of the DC Metro Area housing market -- with data through July 2012 -- was released August 10. Sales have increased 5.1% over July 2011, while prices are up 4.1%. Housing inventory is at its lowest in 7 years exerting an upward pressure on prices.


August 10: The Real Estate Business Intelligence (RBI) analysis of the DC Metro Area housing market -- with data through July 2012 -- was released August 10. Sales have increased 5.1% over July 2011, while prices are up 4.1%. Housing inventory is at its lowest in 7 years exerting an upward pressure on prices.


August 7: The latest Clear Capital Home Data Index Market Report -- with data through July 2012 -- was released August 7. Washington metro home prices rose 12.8% over July 2011 compared to growth of 2.2% nationwide.


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 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.


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.