Case-Shiller: DC Home Prices Rise 4.1%

• February 22nd 2011

by Mark Wellborn

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Continuing the trend of outpacing the rest of the country, the DC area posted a 4.1 percent year-over-year increase in home prices between December 2009 and December 2010, according to the latest Case-Shiller report released this morning. Nationally, home prices in the 20-city index decreased 2.4 percent during that period.

The DC area market was one of two metropolitan markets (the other being San Diego) that showed a year-over-year increase. The Case-Shiller report also showed that prices in the DC area increased slightly between November and December 2010.

From the report:

The monthly statistics show that 19 of the 20 [Metropolitan Statistical Areas] and both the 10-City and 20-City Composite were down in December versus November and all have displayed this negative trend for three consecutive months. The only exception was Washington, DC which posted a 0.3% improvement over its November levels.

The improvement was largely due to an increase in middle-tier priced homes (between $293,756 and $457,827) and a tiny increase in the high-tiered bracket (above $457,827); homes in the lower-tier (under $293,756) decreased slightly in price.

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/case_shiller_dc_home_prices_rise_4_1/3034.