S&P Case Schiller Says - Washington DC Ranks Top in Year Over Year Gains in Home Prices
Although the data released today by S&P/Case-Shiller shows that the majority of the country is showing a continued decline in home prices, Washington, DC had a healthy 3.5% increase over the previous year. Washington was one of only four cities that could boast an increase. The other three cities that ended up with a gain are Los Angeles, San Diego and San Francisco, all (obviously) in California.
A lot of the gain for the year occurred in late spring, with Washington’s May 2010 showing a 7.7% increase over the previous year. This momentum was not sustained thru the end of the year, and November actually showed a decrease from the previous year.
Still, the numbers are positive and the fact that Washington, DC was the strongest in the country allows us to remain optimistic about future growth and productivity.