Joe Sixpack is quickly learning that "Prices only go up!" is clearly false.
In what may be the most telling sign yet that the real estate market here has shifted downward, median prices of homes in several parts of the Washington area have declined when compared with the same time last year.In Loudoun County, for example, the median price of homes sold dropped 1.2 percent last month, compared with June 2005, according to Metropolitan Regional Information Systems Inc., the area's multiple listing service. In Fairfax County, prices fell by half a percent in May and a tenth of a percent in June.
Wednesday, July 26, 2006
Washington Post: After 5 Years of Growth, Home Prices Drop
The Washington Post reports about the declining housing market in the Washington, DC area.
Posted by David at 3:23 PM