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DC Home Prices Fall, Sales Increase

  • February 24th 2009

by Mark Wellborn

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Home prices in the DC area dropped 19.2 percent over the last year, according to information released by The Case-Schiller Price Index today. However, the good news is that a report from the National Association of Realtors that will be released on Wednesday will likely show that home sales increased 1.3 percent in January following a 6.5 percent bump in December, according to the Washington Business Journal.

DC Home Prices Fall, Sales Increase: Figure 1
Image courtesy of The New York Times

Home prices fell in the 20 cities surveyed by Case-Shiller, but declines were the worst in Phoenix (34 percent) and Las Vegas (33 percent). The NY Times is reporting that national housing prices in the last quarter of 2008 sank to their lowest levels since 2003.

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/dc_home_prices_fall_sales_increase/576.

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