Wednesday, June 29, 2011

Homes prices in D.C. area lead the rest of the U.S.

The Washington area maintained its status as the healthiest housing market in April with home price gains that led the nation.

Washington was the only market with a gain in April from the year before, as average prices rose 4 percent. The Los Angeles market had the next best year-over-year performance with prices that declined only 2 percent. Nationwide, average prices in the past 12 months declined 4 percent in the latest 20-city S&P/Case Shiller Home Price Index.

A majority of markets managed unadjusted monthly gains from March to April, but none could match the Washington area’s 3 percent increase in average price. San Francisco was second with a March to April gain of 1.7 percent. The 13 markets with gains pulled the national monthly average up to a 0.66 percent advance.