Obamas buying DC home they've been renting, spokesman confirms

— -- The Obamas will be purchasing the house they have been renting in Washington, D.C., a spokesman for former President Barack Obama confirmed Wednesday to ABC News.

"Given that President and Mrs. Obama will be in Washington for at least another two and a half years, it made sense for them to buy a home rather than continuing to rent property,” spokesman Kevin Lewis said.

As ABC News previously reported, the Obamas have been renting a nine-bedroom mansion in Washington's Kalorama neighborhood following their decision to remain in the district until their daughter Sasha, 15, finishes high school.

The news was first reported by the Chicago Sun-Times.