Washington Area Home Prices Fall Almost 11 Percent
25 03 2008
Well things sure arn’t getting better just yet. The S&P/Case Shiller Home Price Indices report released today showed price declines in the Washington area averaged 10.9 percent from last year.
This is the largest drop for the area since it started being measured in the 1980s. It comes as no surprise that around the country Las Vegas led the way with over a 19% drop but slightly more surprising is that not a single market being tracked had an increase over last year.
The Photo is by Mr T in DC of a house for sale on Rhode Island Ave in Northeast. Guess we are not at the bottom yet, but it does seem like things are beginning to price more reasonably, is it time to buy?
Wow those poor people out in LV sure are in trouble! As for this area though I thing the worst is over, save for a few delusional real estate agents who are still way over pricing.
i heard from a little birdie that this coming fall / winter will be a good time to look into buying . . . we’ll see if that happens. in the meantime, i’ll be penciling it into my calendar to start looking for my fiancé around then. (he’ll be out to sea, so *i* get to do the home-hunting for him. i’m not complaining.)