Case-Shiller: Housing Down 4.1%: But What About DC?

Today the most recent Case-Shiller Index report showed a decline in housing prices of 4.1% compared to the same time last year. The problem with the Case-Shiller index is that it pools real estate data from all around the country, so the overall numbers tell us very little about our own market.

So, where does the DC area stand in comparison to this time last year? Have a look…

All told, it looks as though the DC area real estate market is about even to where it was last year. Case-Shiller reports a growth in prices of just 0.3%, but staying level is a win in today’s real estate landscape. DC was one of only two cities used by the index to post a gain (Detroit grew 1.2% year over year), while the other 18 saw a decline in prices. As you can see above, single family homes are outperforming condominiums, but in honesty, this chart paints a relatively stable picture for the area’s condo market.

Now, here is the catch; even looking at the DC area specifically is not going to help a homeowner, or aspiring home buyer understand what is happening in their neighborhood. The DC area average price is what it is because some neighborhoods are down, and some are up. For more detailed information browse through the “Market Stats” links in the navigation bar at the top of the page, OR look to the right sidebar to request a detailed “Market Snapshot” based on your home’s location and specifics.

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