Home Prices are Up
12 11 2007
The Washington Business Journal is reporting this morning that housing prices in the area are up for October over last year, but that outlying suburban areas further outside the beltway continued to fall.
The Average home in the area is now selling for close to $500,000 which is up 6% from last year. The real question though is if this is a year over year blip or if it can be sustained. Many areas outside the beltway showed steeper declines due to the concentration of the majority of new housing developments.
Have we reached the bottom?
[Flickr Photo: jgcf]
i think so. lots of my colleagues are buying homes. and there are just too many developments breaking ground in dc. the uptick is inevitable.
Keep up the good work. I’ll have to look for a link to that article since everything else I read says things are going down!
Frank- Broker Va