DC Real Estate Market Rises Above Doom & Gloom
Posted by Gretchen Koitz on Wednesday, December 29, 2010 at 1:01:54 PM By Gretchen Koitz / December 29, 2010 Comment
Washington DC Metro Real Estate Market Shows Growth While National Housing Prices Continue to Slip.
I think it's safe to say, as a WHOLE, the national housing market is still "hurting". In fact yesterday's S&P/Case-Shiller Composite study put numbers to this truth.
In summary, home prices nationally dropped by 1.3% in October when compared to the previous month. And year-to-year-data? Home prices fell 0.8% when comparing October 2010 to October 2009.
Real estate as a "WHOLE" -- it's is contradiction when studying the health of a real estate market. As many of you know, I feel housing statistics are best studied on an even more micro level. But good news is good news...so here ya go!
Washington DC Real Estate Rise?While the S&P/Case-Shiller Composite is a bit disheartening when looking at stats from a national perspective, things are up (literally) in Washington DC!
According to the recent report, which is based on a composite of the home price index of 20 different cities, DC is one of only four areas to actually post year-over-year gains.
The other three cities to show gains are all found on "left side": Los Angeles, San Diego and San Francisco. The Denver real estate market fared well in the report too.
Feel free to explore the Cas-Shiller Composite study in greater depth in related links!