Real estate data tracking firm Clear Capital says average prices nationally last quarter fell 1.3 percent from the previous quarter. Regionally, prices fell 4.3 percent in the west, but were largely unchanged in the rest of the nation.
Among metropolitan areas, Washington again ranked as one of the healthiest. Clear Capital says prices here were up 1.5 percent last quarter and up 8 percent from a year ago.
"The latest data through March supports our view that many markets are continuing to see relief from the significant price declines we observed through January," said Clear Capital research director Dr. Alex Villacorta. “While some markets are already in double dip territory, specifically in the West, widespread fear of a collective fall in market prices is overstated."
Foreclosures are putting less pressure on sales prices in Washington than in many markets. Clear Capital says 15 percent of houses for sale in Washington last quarter were bank owned, compared to half of the houses on the market in cities like Las Vegas, Detroit and Fresno, Calif.
Among cities, Detroit had the biggest quarterly price decline, down 18.9 percent. Bridgeport, Conn. had the best quarterly gain, with prices up 9.4 percent from the final quarter of 2010.
Copied from Washington Business Journal, July 7, 2011
Among metropolitan areas, Washington again ranked as one of the healthiest. Clear Capital says prices here were up 1.5 percent last quarter and up 8 percent from a year ago.
"The latest data through March supports our view that many markets are continuing to see relief from the significant price declines we observed through January," said Clear Capital research director Dr. Alex Villacorta. “While some markets are already in double dip territory, specifically in the West, widespread fear of a collective fall in market prices is overstated."
Foreclosures are putting less pressure on sales prices in Washington than in many markets. Clear Capital says 15 percent of houses for sale in Washington last quarter were bank owned, compared to half of the houses on the market in cities like Las Vegas, Detroit and Fresno, Calif.
Among cities, Detroit had the biggest quarterly price decline, down 18.9 percent. Bridgeport, Conn. had the best quarterly gain, with prices up 9.4 percent from the final quarter of 2010.
Copied from Washington Business Journal, July 7, 2011
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