Northern Virginia Bits Bucket 3/30/2011

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S&P/Case-Shiller® January Home-Price Index

The S&P/Case Shiller® composite index for the month of January was released today.

"'Keeping with the trends set in late 2010, January brings us weakening home prices with no real hope in sight for the near future' says David M. Blitzer, Chairman of the Index Committee at Standard & Poor's. 'With this month’s data, we find the same 11 MSAs posting new recent index lows. The 10-City and 20-City Composites continue to decline month-over-month and have posted monthly declines for six consecutive months now.

'These data confirm what we have seen with recent housing starts and sales reports. The housing market recession is not yet over, and none of the statistics are indicating any form of sustained recovery. At most, we have seen all statistics bounce along their troughs; at worst, the feared double-dip recession may be materializing....

'Looking across some of the markets, we see that with a January 2011 index level of 99.59, Atlanta has joined Cleveland, Detroit and Las Vegas as markets where average home prices are now below their January 2000 levels. Washington DC appears to be the only market that has weathered the recent storm. While it was up only 0.1% for the month of January, it’s annual rate was a relatively healthy +3.6%, it is still +10.7% above its March 2009 low, and ranks number one among the 20 markets as its average value is almost 85% above its January 2000 level.'"

Northern Virginia Bits Bucket 3/28/2011

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Northern Virginia Bits Bucket 3/25/2011

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Northern Virginia Bits Bucket 3/24/2011

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Northern Virginia Bits Bucket 3/23/2011

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Northern Virginia Bits Bucket 3/22/2011

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Northern Virginia Bits Bucket 3/21/2011

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Northern Virginia Bits Bucket 3/18/2011

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SEC moves to charge Fannie, Freddie execs.

Also,

FDIC Sues WaMu Execs.

Mopping up.

Housing Affordability Update

Here's an updated affordability chart for the Washington Metropolitan Statistical Area. The NAHB/Wells Fargo Housing Opportunity Index (HOI) has data going back to 1991.

HOI is a measure of the percentage of homes sold in a given area that are affordable to families earning that area's median income.

Northern Virginia Bits Bucket 3/17/2011

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Inman News - DC/VA/MD top market in 2011 h/t VA Investor.

MSM starting to notice rent rises. Rentals began noticeably tightening here last summer.

Also,

CR: Core measures show increase in inflation:

"The index for all items less food and energy rose 0.2 percent in February, the same increase as in January, with most of its major components posting increases. The shelter index rose 0.1 percent in February, with rent and owners' equivalent rent both also rising 0.1 percent."

Northern Virginia Bits Bucket 3/16/2011

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Northern Virginia Bits Bucket 3/14/2011

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Northern Virginia Bits Bucket 3/11/2011

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Northern Virginia February Housing Sales

Northern Virginia's February 2011 housing sales were down 8.4% YoY, and median prices were up 2.7%. The average days on the market increased by 47% to 75 days.

(The above statistics include Alexandria City, Arlington County, Fairfax City, Fairfax County, Falls Church City, Fauquier County, Loudoun County, Manassas City, Manassas Park City, and Prince William County).



Source: MRIS

Northern Virginia Bits Bucket 3/8/2011

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Northern Virginia Bits Bucket 3/7/2011

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Northern Virginia Bits Bucket 3/4/2011

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Don't miss CRT's update first in the comments yesterday.

Northern Virginia Bits Bucket 3/3/2011

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Northern Virginia Bits Bucket 3/2/2011

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