RBI Pending Home Sales Index™ Reports a 33 Percent Jump Year-Over-Year; Home Prices Slip

Rockville, MD – (March 10, 2011) – According to data released today by RealEstate Business Intelligence (RBI), an MRIS company, the Washington, DC metro area housing market showed the largest year-over-year increase in pending home sales although housing prices remained weak.

“There was a 33 percent year-over-year increase in the number of contracts signed in February, the largest increase in more than a decade,” says housing market expert and RBI analyst Jonathan Miller. “The number of signed contracts remains 13.7 percent below the ten year average but activity has begun to expand.  Unusually restrictive mortgage lending conditions continue to keep housing prices in check.” 

RBI Year End Report Indicates Housing Prices Edge 2 Percent Higher as Properties Sell Faster

Rockville, MD –(March 2, 2011) – RBI, the primary source of real estate data, analytics, and business intelligence for real estate professionals in the Mid-Atlantic region, today released its 2010 year end statistical analysis for the Washington, DC metro housing market. The market area includes: Washington, DC; Montgomery County; Prince George’s County; Alexandria City; Arlington County; Fairfax County; Fairfax City; and Falls Church City.

“After a roller coaster ride in home sales caused by the federal homebuyers tax credit, the Washington, DC metro area housing market ended the year with about the same number of sales for 2010 as occurred in 2009,” said noted housing market expert and RBI analyst Jonathan Miller.  “Despite improved affordability from record low mortgage rates and housing prices below the peak levels of a few years ago, conservative mortgage underwriting, as evidenced by the 35 percent year-over-year increase in cash purchases, continues to keep the housing market improvement in check.”