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DC August Housing Report: Sales Down, Prices Up

  • September 23rd 2010

by Mark Wellborn

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The National Association of Realtors recently reported that existing home sales in the DC area were down almost 10 percent in August (compared with August 2009) while sales nationally increased 7.6 percent. Median prices in the metro area were up 5.4% to $345,500 during that time.

Existing home sale statistics include completed transactions for single-family, townhomes, condominiums and co-ops.

NAR chief economist Lawrence Yun on what last month’s national stats means for the housing recovery:

“The housing market is trying to recover on its own power without the home buyer tax credit. Despite very attractive affordability conditions, a housing market recovery will likely be slow and gradual because of lingering economic uncertainty.”

See other articles related to: dc home prices, housing reports

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/dc_august_housing_report_sales_down_prices_up/2505.

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