In this chart 100 represents the average sales price for Northern Virginia for March for a given year. The 100 figure is the base price for the housing index. Hence, if the average sales price was 300K in March 1999 and had risen to 315K by April 2005 the price index would be 105 [ [(315 /300) * 100] for April.The current price index, the yellow line, is much weaker in terms of price appreciation then the previous two years.
Posts
