The Washington Business Journal just reported (5/15/07) that despite a nationwide home sale decrease of 6.6 percent in the 1st quarter (from a year ago), sales of existing homes in the District jumped 9.3 percent, the second biggest increase in the country!

The WBJ also references a quarterly report from the National Association of Realtors which says Washington-area home prices rose a modest 1.2 percent from year-ago levels, while nationally, median home prices fell 1.8 percent to a two-year low. 

The article further states that the median price of an existing home in the Washington area was $427,800 last quarter, compared with $422,800 a year ago.

And finally, Sales in the District were reportedly outpaced only by a 20 percent gain in Wyoming!

It's quite interesting that the real housing sales numbers aren't nearly as bad as portrayed in the media!  So the sky isn't falling, is it?  In fact, the Washington DC area is 2nd only to Wyoming!!  Who'd a thunk it?