Nationally, sales of existing single-family homes and condos dropped 8.4% in March adding to the year-on-year decline of 11.3%, said the National Association of Realtors.
But DC condos and co-ops fared significantly better, said DC realtors association. Sales contracts jumped 8% in March 07 compared with March 06. Inventory declined almost 14% too. Not so bad, if you ask us.
Sales of single family homes did not do as well and more or less (ok less) matched the national trend. Contracts in March were 12% fewer than a year ago. But again inventory is down about 4.5% and prices are up almost 10%. So there is some good news there for DC homeowners.
The WaPo picks up the story this way: Existing Home Sales See Highest Monthy Drop Since 1989.
April 24, 2007
DC CONDOS OUTSHINE NATIONAL TREND, HOUSES ON PACE
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4 comments:
Looks like you turned this RE bubble blog into a propaganda blog for Realtors.
Well! It seems there's no real estate bubble in DC after all! So, maybe, you guys should take down this blog unless you provide proof to the contrary. I want concrete proof -- numbers and figures. Thank you!
Interesting. In the last few hours you have changed the author's name from "10buckchuck" to "dcbubble"
Are we trying to hide something?
Hey guys! I think the only thing that will bring prices way down is a terrorist attack. Short of that, stop hoping for a price meltdown.
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