Scorching housing markets across the country might be taking a breather, but Washington area buyers and sellers don’t seem particularly fazed by rising interest rates and uncertain economic conditions. The Office of Federal Housing Enterprise Oversight is reporting year on year growth for the last quarter of 2005 of 12.95 percent nationwide, which equates to a fair amount of continued energy for the country as a whole. In Washington, however, prices last quarter were 22 percent higher than in the same period in 2004, good for the fourth highest rate of growth in the country. In Maryland, the number was 21.5 percent and in Virginia, 19.7 percent, placing all three state-type things in the national top ten.
The Washington Business Journal notes that prices in the District have increased 506 percent since 1980.
Picture taken by AlbinoFlea.
