Washington DC Tops in 2011 US Strongest Housing Markets

Washington D.C. is named as the strongest housing market this year according to the Inman News nationwide examination of the economic, demographic and housing data in many metropolitan areas. Markets with low unemployment rates, low foreclosure activity, population growth and growth in occupied housing units are considered as strong housing markets in the entire nation.

Of course, the entire ranking of the Inman News list of top housing markets are based on the sales volume, median sales price appreciation and the population growth of the area.
Other criteria taken into consideration for the top housing markets include a rise in immigration, projected job growth, median household income growth and high median sales price growth.

Washington DC earned the lead spot as home prices take a 4.1 percent hike year-over-year. In addition, there is an 8.1 percent increase of the median home prices, though is said to remain affordable to families within the median income of the area.

Unemployment rate of Washington DC is at 5.7 percent as of December 2010 and the foreclosure rate as of 2010 is 1 unit in 49 units. Furthermore, the totality of homes affordable for the families within the range of median income is in 79 percent.

While most of the metropolitan areas in the entire nation are facing an index low in the market, Washington DC continues to raise its percentage of home prices every year. This therefore justifies the state as one of the most stable housing markets for years to come.

-M. Germaine Parra
Realtor, Feng Shui Consultant
Licensed in DC, MD and VA
Long and Foster Realtors
6862 Elm Street Office, McLean, VA  22101
Office:703-873-3500
Fax:   703-873-1901
Cell:  703.650.8838
www.germaineparra.com

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