Economist: Reality Check on Home Prices
Adapted from an article posted June 10th 2013, 14:20 by Economist.com
In the chart below, the tan line (Washington DC) shows that we are back to the area price levels of 2Q 2002 and 1Q 2008, while the peak was 2Q 2005:
The full interactive chart (CLICK HERE) allows readers to compare the ups and downs of America’s 20 main housing markets tracked by Standard & Poor’s. The data begin in 1987 for 14 cities, extending to 20 from 2000 onwards. The Economist has augmented the index by comparing the data against household income and housing rents.
There are five different measures in the interactive chart for reference. The above chart is Prices in Real Terms – rebased to 100 for the selected date, but the index is deflated by consumer prices to take account of the effects of inflation on purchasing power.
F. Hill Slowinski, JD, REALTOR® in DC, MD, and VA
W.C. & A.N. Miller Realtors, A Long & Foster Company
Christie’s International Real Estate
4701 Sangamore Road, Bethesda, Maryland 20816
Tel: 301-229-4000 Fax: 301-229-4015
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Email: HSlowinski@LNF.com · Web Site: www.HillSlowinski.com