New Report Presents Quarterly Look at DC Housing Market

In July 2006, Neighborhood Info DC, a partnership between the Urban Institute and LISC, launched a new report that provides a quarterly look at current trends in the Washington, D.C. housing market.

Titled the District of Columbia Housing Monitor, each report will track changes in residential sales, building permits, housing stock changes, and Federally assisted housing. In addition, each report will include a special focus section that will analyze developments that are shaping the local housing landscape.

The first issue focused on sales trends by neighborhood which showed price growth occurring most rapidly in traditionally weak market areas of the City.

The more recent report released in the fall focused on mortgage lending trends. Some recent findings include:

• The City’s home sales market is slowing.
• Except for Wards 1 and 7, all Wards experienced price declines at the start of 2006, but several Wards still recorded strong year-over-year price increases.
• Home building continues on a record-breaking pace, particularly for multifamily housing.
• Thousands of federally assisted housing units remain at risk.
• About one-third of all home purchase loans were to lone female borrowers; such borrowers accounted for roughly half of all loans in Wards 7 and 8.

Funded by the Fannie Mae Foundation, these reports are available at www.neighborhoodinfodc.org. Look for the next report in early 2007.