Washington Business Journal
by Tucker Echols, Staff Reporter
Thursday, June 25, 2009
Report: D.C.-area home prices up 3.4% in April
A new report indicates that Washington-area home prices rose in April – a sign the market may be establishing a bottom.
Home prices in the Washington area, as measured by research firm Radar Logic, were up 3.4 percent in April, compared to March. Nationally, the gain among 25 top metropolitan areas was 1.2 percent, the first increase since home prices peaked in June 2007.
D.C.-area prices, like those nationally, are still weaker than a year ago. April prices in the Washington area were 15.2 percent lower than April 2008, according to Radar Logic.
Nationwide prices remain 20 percent below year ago levels.