Washington Market #1

Case-Shiller Index: Washington Market #1

Once again the Washington Area real estate market has topped the Case-Shiller home price index. According to this most recent report, released November 30th, average home prices in the DC area have increased 4.5% from just a year ago.  With an index of 188.79, our local market is the highest of any metro area in the country.  It is important to understand how the Case-Shiller Index works and what this number actually means.  Home prices in the 20 biggest metro areas in the U.S. are tracked.  The Case-Shiller indices have a base value of 100 back in January of 2000.  If an area has an index of 120, then home prices have appreciated 20% since the year 2000. With an index of 188.79, Washington area home prices have appreciated almost 90% since January of 2000   Click Here To View Full Article