Finally, some good news for homeowners in the Washington area. Home prices throughout our region saw the strongest climb in the country in April.
The Washington Examiner reports that housing prices jumped 6.5 percent from April 2009 to April 2010, according to data from CoreLogic.
Andy Bauer, regional economist for the Baltimore branch of the Richmond Federal Reserve, told the Examiner that the spike is due to solid job growth and the expansion of the federal government.
"There's always going to be some demand for D.C. housing," particularly inside the Capital Beltway," he said.
Despite the good numbers, there is a major difference between the prices in Maryland and Virginia. According to the Examiner, Virginia had the fourth-highest climb among states at 6.5 percent. Maryland however had the fourth-worst, at 4.3 percent. Home prices in the District increased 3 percent, 14th in the country.
Hawaii saw the biggest jump, at 13.4 percent. Idaho saw the worst decline, at 7.2 percent.
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