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Case Shiller Shows DC Area Home Prices Rising

  • June 29th 2010

by Mark Wellborn

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The Case-Shiller Home Price Index was released today and the DC area has the highest home price gains in the country in April.

Median home prices increased 2.4 percent in the DC area between March and April 2010, and 7.3 percent from April 2009. Four other areas had better year-over-year gains, including San Francisco where prices increased 18 percent.

Note that the increase in prices does not mean that the housing market is out of the woods yet.

David Blitzer, chairman of Standard & Poor’s index committee, had the following insight:

“Inventory data and foreclosure activity have not shown any signs of improvement. Consistent and sustained boosts to economic growth from housing may have to wait to next year.”

See year-over-year numbers for the 20 metropolitan markets tracked by Case-Shiller below:

Case Shiller Shows DC Area Home Prices Rising: Figure 1

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/case_shiller_shows_dc_area_home_prices_rising/2216.

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