Posts Tagged ‘Home Prices’
Home Prices Nudge Up for the Third Month in a Row
Dallas: The city the housing crisis skipped over.
Home prices have increased, nationally, on a month-to-month basis for the third month in a row, according to the July Case-Shiller home price index released today.
In our area, home prices rose 1.8 percent in from June to July—so we’re faring a bit better than the national average of 1.6 percent, according to the Washington Business Journal. Of course, prices are still down nearly ten percent here when compared to July 2008’s numbers. But, hey, at least we’re not among the hardest hit, as detailed by Frank Ahrens on washingtonpost.com.
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Washingtonians Feeling More Confident About Housing Market
Fewer Washingtonians are willing to lower their home asking prices, according to a new report out by Trulia on Friday. The amount of price reductions has dipped 17 percent in the region’s housing market, comparing June 2009 to August 2009 numbers.
Here are some other cities experiencing the trend:
- Dallas, TX – 42% fewer price reductions
- Las Vegas, NV – 33% fewer price reductions
- Louisville, KY – 33% fewer price reductions
- Los Angeles, CA – 19% fewer price reductions
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Reasons to Pity Your Landlord…
Standing on the edge of the Pacific last week, overlooking gorgeous cliff bluffs protruding into the ocean, I found myself discussing a subject I vowed to leave in DC during my vacation: The high cost of living in Washington.
Specifically, I was referring to rental costs. Sure, it could be worse. I’ve never had to erect a cardboard wall to “create” another “private” room, like some people do in New York City. And San Fran, where I was last week, isn’t known for its cheap living. But rents in DC seem ridiculously high—without the ocean breeze, humidity-free air, and citywide vistas—and seem to only be getting worse. (See this recent post I did on group house rents.)
But a recent report by the Center for Economic Policy Research and the National Low Income Housing Coalition provides an odd reality check: Home prices in the DC-Area are still dramatically inflated compared to rental prices. (Hat tip to Urban Turf for spotting the report first.)
House Prices Up a Tiny Bit in D.C. (and Eight Other Cities)
Remember 2003: The invasion of Iraq? Martha Stewart’s indictment? Arnold Schwarzenegger’s election? Beyonce and Jay-Z’s “Crazy In Love?”
It feels like a while back, and yet, not so terribly long ago.
Well if 2003 reminds you of the year you went house-hunting, then 2009 should feel vaguely reminiscent. According to an analysis out today by IHS Global Insight, home prices, nationally, now resemble prices from six years ago.
As for the local angle, D.C.’s doing better than most cities. In total, eight cities witnessed small price hikes in May (today’s report reflects May data.)
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Washington D.C. Area Posts Record Monthly Home Price Decline
The latest home price data, examining October 2008 numbers, is out: Washington D.C., along with five metropolitan areas—Atlanta, Charlotte, Detroit, Minneapolis, and Tampa—posted their largest monthly declines ever. The steepest year-to-year decreases were in Phoenix (down 32.7%), Las Vegas (down 31.7%), San Francisco (down 31.0%), and Miami (down 29.0%), according economic research firm IHS Global Insight.
