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GreaterWashington, DC Market Report
 
July 2011 RBI Pending Home Sales IndexTM: Washington, D.C. Metro Area – Signs of Slipping in Nation’s Housing Market
Home sales down more than normal for this time of year;
Sales still strong when compared to July 2010 reports
Rockville, MD – (August 10, 2011) – The following analysis of the Washington, D.C. Metro Area housing market has been prepared by housing market expert Jonathan Miller of Miller Samuel, based on the July 2011 RBI Pending Home Sales IndexTM released today:                                     
 
OVERVIEW
The number of contracts signed for the month of July fell 10.9% from June, a larger decline than the 7.5% ten year average.  While month-over-month contract activity tends to decline in July, the debt ceiling debate dominating media coverage for most of the month probably caused consumers to pause before making a purchase decision.  Even with the hesitation, new pending sales reached their highest June total in six years.   The 29.3% year-over-year July increase in pending sales activity was a result of last year’s lull in market activity in the months that followed the April 2010 contract signing deadline to qualify for the federal homebuyer tax credit.  Median sales price slipped in July to $370,000, ... more

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