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DC Area Has Highest Housing Price Increase in U.S.

  • February 25th 2010

by Mark Wellborn

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DC Area Has Highest Housing Price Increase in U.S.: Figure 1

After reports this week that new home sales fell off a cliff in the country, it is nice to get some good news for at least the DC area housing market.

A recently released report from the Federal Housing Finance Agency stated that housing prices in the DC area had the biggest increase in the nation over the past year. Average prices increased 10.5 percent between the fourth quarter of 2008 and the fourth quarter of 2009. Not too shabby, particularly when compared to the rest of the country, where prices fell 1.2 percent.

Here are a few other interesting highlights from the report:

  • Over the last year, Virginia had the second best rate of appreciation nationally, following only Oklahoma. DC ranked 21st and Maryland 42nd.
  • Year-to-year declines were the worst in the Miami area where prices dropped 12.9 percent between the fourth quarters of 2008 and 2009.
  • Of the nine divisions covered by the report, the Mountain and Pacific divisions experienced the most significant price movements in the latest quarter; prices fell 1.3 percent in the Mountain Division and increased 1.5 percent in the Pacific division.

See other articles related to: dc area market trends, dclofts, national trends

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/dc_area_has_highest_housing_price_increas_in_u.s/1818.

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