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DC's Housing Market Turns The Tide; Good News For Sellers

Look, it's an appraiser, it's a podcaster, it's a chart maker. It's Jonathan Miller!

Here's my chart version of the May 2012 report published by RBI/MRIS. They've got terrific data and when Curbed DC asked me to go old school and bring back the charts so the trends would be easier to understand, I gladly obliged. I called up my inner Three Cents Worth days in DC. We're seeing seasonality peaks in price trends and newly signed contracts (this data is not seasonally adjusted). As a result we can expect both metrics to edge a little lower in June as the summer slow down begins. Click through for the monthly comparison chart where you can see that the number of year-to-date signed contracts in 2012 is edging out 2011 and after filtering out the tax credit silliness of 2010, the level of activity has generally edged higher each year since the credit crunch hit hard in the fall of 2008. All in all the DMV looks like it is seeing some sort of normal housing patterns despite some of the tightest mortgage lending standards in decades. It's a crazy world out there.

· DC Metro Double-Digit Price Increase in May for the 2nd Straight Month [RBI]
· Jonathan Miller/Matrix [OfficialSite]
· All Three Cents Worth columns [CDC]
· @jonathanmiller [Twitter]