Despite Price Rebound, Many Washington Area Homeowners Face Steep Losses

January 31, 2011  |  

(Washington Post) — The Washington area is one of the few regions in the country where home values have been consistently climbing in recent months, with typical prices increasing 8 percent since hitting bottom two years ago.  The rebound has given a lift to the local economy and begun to ease the pressure on many struggling homeowners, who became more vulnerable to foreclosure when the equity in their property evaporated. Single-family home prices have soared 27 percent in the District and 26 percent in the Virginia suburbs from the low point, according to a Washington Post analysis of sales records.

Read More…

Trending on MadameNoire

Comment Disclaimer: Comments that contain profane or derogatory language, video links or exceed 200 words will require approval by a moderator before appearing in the comment section. XOXO-MN