Washington Housing Market Data
October 2012
Most monthly housing reports show the Washington Metropolitan Area as one of the strongest markets in the country. Although each analysis employs differing methodologies with varying results, the Washington Area remains one of the highest performing markets nationwide.
October 30 - The Standard & Poor/Case-Shiller Home Price Index -- reporting data through August 2012 -- was released October 30. Washington Metro Area home prices increased 4.3% over August 2011. Nationwide home prices for the composite 20 cities increased 2.0% from August 2011. Washington DC shows the biggest increase in average home prices since January 2000.
October 25: Delta Associates Washington Area Housing Outlook for 3rd quarter 2012 was released October 25. Metro area home prices are up 4%, the average home is selling at 98% of list price. Prices remain highest in DC, Arlington and Alexandria. The average price of a home in third quarter 2012 is $547,277 - 3.2% higher than the third quarter of 2011. Time on market dropped to 54 days, down from 69 days last year.
October 25: The August Pending Home Sales Index of the National Association of Realtors -- with data through September -- was released October 25. Pending U.S. home sales have risen for 17 consecutive months on a year-over-year basis, leading to the solid recovery seen in closed existing-home sales this year. Annually, contracts increased 14.5% over September 2011. Monthly: contracts increased 0.3% from August to September.
October 19: The National Association of Realtors report on U.S. *existing* home sales -- with data through September 2012 -- was released October 19. Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, are 11% above September 2011. The national median existing-home price for all housing types is up 11.3% from a September of last year. Listed inventory is 20% below a year ago.
October 10: The latest Real Estate Business Intelligence (RBI) analysis of the DC Metro Area housing market -- with data through September 2012 -- was released October 10. RBI research methodology shows Washington sales have increased 4.7% over September of last year. Close prices have risen 6.5%, contracts are up 9.6%, average time on market is down to 26 days.
October 2: The CoreLogic Home Price Index -- with data through August 2012 -- was released October 2. CoreLogic methodology shows Washington home prices rose 5.5% over August 2011. Nationwide, home prices gained 4.6%.
October 2: The latest Clear Capital Home Data Index Market Report -- with data through September 2012 -- was released October 2. Clear Capital's methodology shows home prices in the DC Metro area rose 12.2%. Home prices nationwide increased 3.6%.
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.
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