01Research
Working papers, research series, methods notes, and practitioner perspectives on housing and real estate. Research states its sources, methods, and limitations; perspectives are labeled as such and report no new findings.
Featured research
Research Working Paper 01Exploratory analysisVerification ongoing
An exploratory working paper on what recorded DC condominium and house sales cost in real terms — and what financing a median-priced purchase implied as mortgage rates rose.
Using 80,985 candidate qualified sales recorded in the District of Columbia's CAMA (Computer Assisted Mass Appraisal) data from 2015 to 2025, this working paper compares how transaction prices and illustrative borrowing costs changed for condominiums and residential houses. After adjusting for inflation, the median condominium transaction price in 2024 was 15.4% lower than in 2015, while the median residential-house price was 8.6% higher (2024 dollars). Fixed-basket checks that hold the 2015 mix of unit sizes or bedroom counts constant point in the same direction. Over 2015–2025, modeled monthly principal-and-interest payments on a median-priced purchase rose from $1,664 to about $2,400 for condominiums and from $2,569 to about $5,056 for houses. These are descriptive, exploratory results: they are not repeat-sales appreciation estimates, they do not establish causes, and key data definitions are still being verified with the DC Office of Tax and Revenue.
5 publications
The outline for a phased DMV research series: Washington, DC first, with Northern Virginia and suburban Maryland to follow in later phases.
Research Working Paper 01 · Exploratory analysis · Verification ongoing
An exploratory working paper on what recorded DC condominium and house sales cost in real terms — and what financing a median-priced purchase implied as mortgage rates rose.
Methods & Perspective
Why affordability analysis should distinguish the purchase price from the recurring cost of occupying a home.
Industry Perspective
A property's final sale price tells us where a transaction ended. It does not necessarily explain how the negotiation unfolded.
Professional Perspective
An impressive feature is not necessarily a useful product.