Active Inventory Down over 25% from March 2011 Level
Rockville, MD – (April 10, 2012) – The following analysis of the Washington, D.C. Metro Area housing market has been prepared by RealEstate Business Intelligence (RBI), and is based on the March 2012 RBI Pending Home Sales Index™ released today.
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OVERVIEW
Pricing in the DC Metro Area continued recent positive trends, with year-over-year median sale price gains in March and in the first quarter of 2012. Active inventory remains low compared to demand, with only 3.2 months of supply. Foreclosures continue to account for a decreasing portion of the DC Metro market. March home sales were down slightly year-over-year, though new contract activity was up compared to March 2011.