Posted on June 10, 2011 by Corey Hart
Jun

10

2011

May Pending Sales Show Seasonal 6.5% Rise From April;  43.1% Year-Over-Year Surge Reflects Last Year’s Lull After Tax Credit Deadline. Median Sales Price Rises 5.9% To Last Summer’s Levels

Rockville, MD (June 10, 2011) – The following analysis of the Washington, D.C. Metro Area housing market has been prepared by housing market expert Jonathan Miller of Miller Samuel, based on the May 2011 RBI Pending Home Sales Index released today:

 

View PDF version of this press release

 

OVERVIEW

There were 5,506 new purchase contracts signed in May 2011, 6.5% more than the 5,170 total in the prior month and 43.1% more than the 3,849 total during the same month last year.  However, the year-over-year jump in new pending sales overstates the consistent improvement in the Washington, D.C. metro area housing market.  In May of 2010 the contract signing deadline for the federal homebuyers tax credit had just expired and pending sales had fallen sharply because they had been “stimulated” to higher levels in the preceding months.  Median sales price continues to show seasonal stability, rising 5.9% in May 2011 to $353,606 – 5.9% higher than April 2011 and 3.5% higher than May 2010.

 

Posted on June 03, 2011 by Jonathan Miller
Jun

03

2011

On May 31st, I wrote about the DC version of the Case Shiller Index and how it doesn't reflect the actual Washington, DC metro area housing market like RBI data does.

Yesterday and this morning I also posted a three part series on the MRIS Blog with more specifics. Take a look:

 

DC Metro Area
Posted on May 27, 2011 by Corey Hart
May

26

2011

Good news for those of you that follow RBI's monthly press releases and have asked why the DC Metro region didn't have a corresponding stats page - you can finally follow along at home!  Like fellow press release subject Baltimore Metro, the DC region now has a standalone page complete with heat maps ("choropleths" for the pedantic type), Interactive Charts, etc.  Non-subscribers can view summary statistics and download the detailed report each month.  The market area includes: Washington, D.C., Montgomery County, Prince George’s County, Alexandria City, Arlington County, Fairfax County, Fairfax City, and Falls Church City.

 

Small Sampler of DC Metro Stats (embeds courtesy of an rbiPRO subscription)

 

 

 

DC Metro Area
Posted on May 10, 2011 by Corey Hart
May

10

2011

Pending Sales 15.9% Below Prior Year Tax Credit Fueled Surge; 4.8% Below March Rush. Median Sales Price Essentially Unchanged Year-Over-Year

Rockville, MD (May 10, 2011) – The following analysis of the Washington, D.C. Metro Area housing market has been prepared by housing market expert Jonathan Miller of Miller Samuel, based on the April 2011 RBI Pending Home Sales Index™ released today:

 

 

OVERVIEW

April buyers and sellers in the Washington, D.C. metro area signed 5,170 purchase contracts, the second highest April since 2006.  The total was second only to the April 2010 surge in activity related to the final days of the federal homebuyer tax credit.  Pending sales in April fell to 5,170, 4.8% short of the heavy volume reached in March, partly a result of last month’s release of pent-up demand accumulated during the post-tax credit expiration lull in the second half of 2010.  The April 2011 median sales price was $334,000, nominally below $335,000 reached in same month last year and 4.4% above $320,000 in March.  The month over month increase was consistent with seasonal patterns.

 

Posted on April 29, 2011 by Jonathan Miller
Apr

29

2011

The National Association of Realtors just released their Pending Home Sale Index that shows contract signings from February to March increased 5.1% adjusted for seasonality.  

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