Special offer

US Housing Prices Drop - Except DC!

Real Estate Agent with Real Estate Teams LLC

Your Distressed Property and Short Sale Expert in Maryland

 Are we heading into a double-dip recession in the housing market?
Of the 20 urban areas rated by S&P/Case-Schiller home price index, only Washington DC showed a significant increase in home prices in the last year - a substantial 3.6%. (San Diego had a tiny .1% increase)

We already knew that in Frederick County Maryland, being a bedroom community to DC.

Advantages in the DC area are: lack of an inventory glut; 74,000 more jobs over last year; and more people are moving to DC, causing the rental vacancy to fall to a scant 3%.
However, the recession may continue, with home prices expected to keep decreasing nationally, and no evidence of any improvement in the housing industry, which has traditionally lead economic recoveries.

Worries locally are the "shadow inventory" of foreclosed homes the banks haven't placed on the market yet, and the probable reduction of the jumbo loan threshhold from $729,750, because so many home prices surpass the former threshhold.

Do you think we are headed for a double-dip recession?
Do you think the banks are largely responsible for this mess?
Will DC home prices continue to rise?

* Helping first time home buyers, investors, and sellers.
www.MarylandDistressed Properties.com
* Keeping People From Experiencing Foreclosure
* Helping uniformed members, and veterns, find homes

Deborah Thornburg Peaks
Weichert Realty, Baron & Snipes - West End, VA

Glad to hear that! Things seem to also not be so hard hit here in Richmond, VA and surrounding counties area:)

Mar 31, 2011 06:40 AM
Dennis Helmstetter
Real Estate Teams LLC - Frederick, MD

Our sales are down also, but prices rising!!!

Have clients in other parts of country who cannot sell, thus cannot buy here!!!

Hurts all.

Mar 31, 2011 07:22 AM
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

By the time E.O.Y. 2012 roled around our values were down between 15-20% .

Good news for this blog post - http://actvra.in/4hVj  

Jul 14, 2014 08:35 PM