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.