Thursday, August 28, 2008

S&P/Case-Shiller: June 2008 report is out

The S&P/Case-Shiller Home Price Indice report for June 2008 was released this week. It "shows continued broad based declines in the prices of existing single family homes across the United States, a trend that prevailed throughout 2007 and has continued through the first half of 2008."

The data show that the Washington, DC MSA is still suffering home price declines [see the charts below]. Effectively, the DC area's home price index has fallen to slightly below that of September 2004. In line with the national data, our area's rate of decline slowed in June.

The charts below reflect home price data for the Washington, DC MSA.



BTW, I know all the arguments about whether this data is truly applicable to DC, especially since it omits condos. It is what it is.

5 comments:

Anonymous said...

Im still amazed at how differently this is playing out across the region, and case shiller just brings that home.

Out in the exurbs, it is as if a nuclear bomb has went off. Inside the beltway, it was just not that big a deal...

Keith said...

I don't think the District has been immune.

Anonymous said...

Immune no, but innoculated, yes. I live out in Ashburn - its like a warzone out there. My fiancee lives in Lyon Park (Arlington) and its as if prices havent budged in 3 years. Pisses me off to no end!!!

Anonymous said...

So does anyone have any idea what has happened to average condo sales prices in DC limits within the past two years?

Keith said...

To Anonymous 1:02PM -

Have you read my blog?