Evening star., 1953-11-14
Upward Trend Seen
Continuing on Value
Of Area Property

Confidence in a continued up
ward trend in Washington's
property values underlies a re-
port just issued by j. Garrett
Bethel, president Of the Home
Builders Association Of Metro
politan Washington.
Based on a study of local eco
nomic factors conducted by the
Home Builders Association, the
report emphasizes that special
local conditions will maintain
this upward trend regardless of
the economic picture in the ma
ton.
The study analyzed two ques-
tions: "Why do Washington
builders generally continued to
enjoy high sales activity?" And,
what is the local prospect Of a
continued stable rate of housing
purchases over the next few
years?"
Cites Three YardstickS.
Mr.. Beitzell says there are
three yardsticks by which we can
measure the future Washington
market for houses. or the sales
potential Of any other product or
service offered locally"
These yardsticks are the United
States Census Bureau population
growth studies, the yearly trend
of single family house permit
valuation, and the comparative
level of home sales activity i'm
piled in the yearly number Of
recorded new mortgages.
The net worth of a community
market is measurable in terms
of the people in it, the report
points out. Net community
worth and all property values in
crease each time a baby is born
or a new family moves into the
community.
Sec HOO1UUU SlIICC 100Vs
The census estimates 255 900
people have been added to the
local population since the 1850
census, a gain Of II percent over a
three-year period. This is equiva-
lent to an annual population in
crease of Sc percent in the Met
ropolitan Area. Certainly this
yardstick contains no indication
of future decline in the Wash
ington market" the report said.
"On the contrary, the local out
lets for goods and services will
have to expand to accommodate
the rapidly increasing demand
created by these new people,
Mr.. Beitzell safd.
Next, we looked for any 1858
downturn in sales volume in
our own area of interest, the
housing field" Mr.. Bethel said.
1--WE found no real change"
The District of Columbia Real
Estate Board reports that ap-
proximately 10000 new mort
cages were recorded from jan
uary /. 1858, to october, 1858.
Last year approximately $4,000
new mortgages were recorded
from January l to October. The
reliable index Of recorded mort
cages reveals an even level OF
housing sales-no downward
movement in sight, Mr.. Bethel
said.
Steady Climb Recorded.
Then the Home Builders Asso-
citation tried to pinpoint the eco
nomic forces that justify the
1853 high level of home buyer in
terest.
The Bureau of Census lists
average single family building
permit values from 1882 in the
Washington area. The study
placed the building permit value
of the District of Columbia area
home at $4,775. BY 1852 permit
values had climbed steadily to
a gain of 1927 per cent over the
1882 figure. This average rate
of climb was Sc per cent increase
in value per year. Notice how
the Sc per cent annual increase
in property value kept pace with
the Sc per cent annual increase
in District of Columbia area
population, Mr.. Bethel said.
Here is the fact behind the
old saying that each new child
(See PROPERTY Page B-5O