Area Home Prices Are on the Rise

According to the IAS360 House Price Index home prices in Fairfax rose 4.9 percent over May and are down 6.7 percent from June of 2007, which is not as bad as the national decline of 11.5 percent. This should help drive more prospective buyers out of their holding pattern and into new homes.

Many Northern Virginia realtor’s claim this area is better suited to withstand economic downturns then most and this 4.9 percent increase, compared to an increase of 1.1 percent at the national level, further supports that claim.

Unless the US Government decides to relocate or goes out of business the DC are should continue to prosper over the years and decades ahead.