D.C. home prices see modest rise for 7th straight month

Interesting article from the Washington Business Journal - by Tucker Echols Staff Reporter

The Washington housing market took another step on the road to recovery in October as median prices rose for a seventh consecutive month, according to the S&P/Case Shiller Home Price Index.

The October gain was a modest 0.2 percent compared to the national advance of 0.4 percent, but the cumulative effect of the Washington market's improvement helped it outperform most of the country in year-over-year comparisons. Median prices in the Washington market were just 2.8 percent lower in October than one year ago, while nationally prices fell 7.3 percent.

You can read the remainder of this article at the link below. As you've probably heard before, real estate is a very "local" business. So price changes can be tracked by neighborhood and by price range. Even in the DC area some price ranges have seen some improvement, while others have not. Generally the higher valued properties have not seen an increase.


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