There's an old saying in real estate that it's about Location, Location, Location. This is especially true right now. While the national S&P/Case-Shiller Home Price Indices showed prices fell year-to-year in the latest survey the housing market rebounded in the Washington, DC area showing a 4% increase in the past year.
With interest rates still low but expected to rise as we move forward now is the time to buy to get the best deals and keep the mortgage payment down. Moving forward higher prices and interest rates could make it harder to qualify for a home. Analysts say home prices are at the most affordable level we've seen in a long time.
Robert Shiller, an economics professor at Yale University and co-creator of the S&P/Case-Shiller home-price index, talks about U.S. home prices, and the outlook for the housing market and the economy. To see his recent interview on Bloomberg click on the video below.
PR Newswire posted an article titled "April Seasonal Boost in Home Prices According to the S&P/Case-Shiller Home Price Indices"
The table below summarizes the results for April 2011. The S&P/Case-Shiller Home Price Indices are revised for the 24 prior months, based on the receipt of additional source data. More than 24 years of history for these data series is available, and can be accessed in full by going to www.homeprice.standardandpoors.com
What do you think about the housing market in the Washington, DC area?
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