Home Prices Surge

By Editor · on October 28th, 2009 ·

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Home Prices Surge in September, 2009.  The annual  rate of decline for home prices are improving as reported by Diana Olick of CNBC.  The Home Price Index shows an increase month to month in August, 2009. This is the fourth consecutive increase.  Keep in mind that Home Prices as a whole are still down, but have home prices bottomed?

The annual rate is improving as well.  Home Prices have increased for the seventh straight month.  Standard & Poors, David Blitzer, stated that we are seeing a slow but steady improvement.  He also mentioned that we are turning a corner.  However, he is concerned about the First Time Home Buyer Tax Credit expiring.

Home Sales that were priced from $0 – $250K made up nearly 70% of all Home Sales.  Homes from 250K -500K made up 22.2%, Homes from 500k-1M made up just 6.9%, and finally Homes from 1M+ made up just 1.3% of sales.

As you can see nearly 70% of Sales are under 250k. This is thanks in part to the First Time Home Buyer Tax Credit set to expire in November

Northern Virginia Real Estate Times

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This entry was posted on Wednesday, October 28th, 2009 at 7:08 am and is filed under Alexandria Virginia Home Sellers, Arlington County Virginia Home Sellers, Ashburn Virginia Home Sellers, Clarke County Virginia Home Sellers, Fairfax County Virginia Home Sellers, Fauquier County Virginia Home Sellers, Frederick County Virginia Home Sellers, Loudoun County Virginia Home Sellers, Northern Virginia Home Sellers, Prince William County Virginia Home Sellers, Washington DC Home Sellers. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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