Washington-area home prices continue upward trend

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.

Read more in the Washington Examiner….
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One Response to Washington-area home prices continue upward trend

  1. Great information, Ben. Question, how much (percentage-wise) of the overall DC market is made of distressed properties (REO’s, Short Sales)? Either way, it’s good to see markets all over the nation experiencing positive signs of a recovery.

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