Home prices in the Washington area were 9.3% higher in May than they were the same month in 2009, perhaps evidence of a housing market recovery. That’s according to real estate analytics company Clear Capital. Nationally, home prices were up 6.8%.
Washington-area prices have been improving over the four quarters according to Alex Villacorta, senior statistician for Clear Capital.
Another positive sign is that the percentage of bank-owned sales are dropping, according to Villacorta. For the period ending in May, bank sales accounted for 20% of all sales in the Washington area, vs. about 37% its worst levels, he said.