There have been dozens of reports discussing the recovery in home prices in the national market, but the uptick in pricing shouldn't be news to anyone living in the Northern Virginia and DC Metro area.  Here's a chart comparing the year-over-year median sale price in Northern Virginia vs. the year-over-year gain in national pricing, according to RBI's new partner CoreLogic:

Aside from a slight blip in spring 2010 due to the first-time homebuyer tax credit program, national prices began recovering in earnest in March 2012, whereas NoVa pricing has seen consistent year-over-year gains since July 2009.

Townhomes lead the way; Despite strong sales, prices are flat and decline in many areas

OVERVIEW

The supply of active listings in the Baltimore Metro Area housing market continues to shrink, and is at the lowest January-level in eight years.  However, the pattern appears to be changing slowly with new listings, which had the highest year-over-year gain since Spring 2011.  New listings are also up across all property segments, which has not occurred in over 2 years.  Even with the shifting pattern in new listings, the overall inventory still remains low.  There are a wide range of factors that could be keeping sellers from listing their properties.  Many could not have enough equity at current prices to “trade up” into a larger unit.  Others may have trouble finding a unit to begin with because the inventory is so low.  Economic uncertainty also remains a key issue on the table for many.