[surely_you_jest]

The data are beginning to confirm the anecdotal evidence already out there - the Metro Washington, DC housing market has topped out.

[ARCADIA]

pop,poP,pOP,POP!.....and, down they go.

[DogBarkTree]

Deals closing today were agreed to in early September and October. Real Estate slows down this time of year.

[2banana]

It is going to get alot worse...

[LS]

I predicted, and stand by my prediction, that you'll see a surge in existing home sales after Christmas as the value differential between new homes (with the "Katrina surcharge" on materials built in) and existing homes will tilt in favor of existing homes. (BTW, home sales are always poor in the 6 weeks leading up to Christmas, then surge again. Christmas is a terrible time to sell a house).

Then, about 8 months out, look for the new home market (with the Katrina surgharge gone) to begin to grow again.

[The Glaswegian]

Amazing....for decades the housing market season ran from late February through late September. October through January were seen as the "buyers market" time of the year. Now if sales aren't going through the roof 12 out of 12....it's the end of times.

[Age of Reason]

Ping.

[Eva]

Real estate always slows in the last quarter, but higher interest rates should be flatten the market somewhat. The frantic pace that we experienced the past few years could not be expected to last forever. I haven't seen much dropping in price in this area, except maybe in homes that were greatly over priced.

[L98Fiero]

Wow, we actually made it to Friday THIS week before one of these articles came out.

[ex-Texan]

The report gives on example of a D.C. area house falling $ 100,000 in value:

Lynn Edmonds and his wife, Sebnem, could barely wait to sign on the dotted line back in May when they committed themselves to pay $796,000 for a three-floor townhouse under construction in Alexandria's Cameron Station.

But since May, the sales prices for the development have fallen -- and units like the one the Edmonds bought are now being sold for $699,900. The Edmonds are facing the prospect of a $100,000 loss in value before they even walk through the front door.

That is a 12.5% loss in one month! And it will get much worse.

Where are all the FR naysayers today? Come out, come out, wherever you are!

[Dems_R_Losers]

Woohoo! I sold my house in Alexandria last year for top dollar. The poor slob that bought it is probably going to lose money on it.

[Netheron]

Don't forget that home mortgage rates are going up. The real cost of a house to most people is not the list price but the monthly payment. If mortgage rates increase, the prices will quickly come down to match.

[A CA Guy]

The rise reminded me of the stock market pyramid scheme during the Clinton administration.

I wonder if the housing market will go down like the tech sector did.

[Porterville]

You mean less houses get sold during the winter? Did you go to bidness school to learn that or .... well, I won't say it. You folks are priceless;

[GOPJ]

Metro Washington, DC housing market has topped out...

Metro Washington is a stone, not the mountain. For those of us who own our homes, and have to pay taxes, prices staying the same is good news.