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RBI Pending Home Sales Index [Wasington, D.C. Metro Area] 08 2011

A two year moving window of the Washington, D.C. metro area housing market

The summer home sales season in the Washington, D.C. metro area market finished with the highest number of signed contracts for August in four years. There were 4,169 contracts signed in August 2011, 8.6% less than the 4,563 contracts signed in July, but consistent with seasonal trends. New pending sales were 19.9% above the August 2010 level but that increase is exaggerated due to the dearth of activity in the months following the expiration of the federal homebuyers tax credit in April 2010. The median sales price for August 2011 showed a similar seasonal pattern, declining 3.8% to $356,000 from $370,000 in July 2011 but was essentially unchanged from August 2011…

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