Washington, DC Home Price Index 2011 06Posted: August 30, 2011
Washington’s Housing Market Still #1
Case-Shiller revises their monthly Home Price Index for the previous 24-month period as new information becomes available. Although the month-over-year change in Washington, DC’s HPI was revised down for the last three months, the streak remains unbroken. According to the June edition of the S&P/Case-Shiller Home Price Index, Washington, DC again posted the best month-over-year level among the largest housing markets in the country AND chalked up the 25th consecutive month that the HPI in the DC market led the country (183.61). That represents a 4.08 point advance over May (+2.3 percent).
The Index in Chicago did advance on a month-over-month basis at a faster rate, 3.6 percent. But the Index there is a considerably lower 115.61. For the sake of comparison, Detroit’s Index measured 65.42 in June, again posting the lowest HPI in the country.
The S&P/Case-Shiller® Home Price Index measures the residential housing market, tracking changes in the value of the residential real estate market. This Index uses a repeat sales pricing technique that collects data on single-family home resales, capturing resold prices to form sale pairs using a moving three month average. Call Rosemary for an analysis of the marketability of your home.