When Did the Home Price Recovery Begin?

There have been dozens of reports discussing the recovery in home prices in the national market, but the uptick in pricing shouldn't be news to anyone living in the Northern Virginia and DC Metro area.  Here's a chart comparing the year-over-year median sale price in Northern Virginia vs. the year-over-year gain in national pricing, according to RBI's new partner CoreLogic:

Aside from a slight blip in spring 2010 due to the first-time homebuyer tax credit program, national prices began recovering in earnest in March 2012, whereas NoVa pricing has seen consistent year-over-year gains since July 2009.

The recovery in the DC Metro region also began sooner than the national recovery.

While the Baltimore Metro pricing trends align more closely with the national picture:

To see the source data for the national trendlines used in the charts above, visit the Home Price Index report on corelogic.com.