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Seattle kicks off 2018 with surging residence costs • Seattle Bubble

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Let’s take a look on the newest information from the Case-Shiller Dwelling Worth Index. In keeping with January information that was launched this week, Seattle-area residence costs have been:

Down 0.7 p.c December to January
Up 12.9 p.c year-over-year.
Up 21.eight p.c from the July 2007 peak

Over the identical interval final 12 months costs have been up 0.6 p.c month-over-month and year-over-year costs have been up 11.three p.c.

Seattle nonetheless leads the nation in year-over-year worth progress. The one different metro areas with double-digit worth progress from a 12 months earlier are Las Vegas at 11.1 p.c and San Francisco at 10.three p.c.

Right here’s a Tableau Public interactive graph of the year-over-year change for all twenty Case-Shiller-tracked cities. Test and un-check the containers on the precise to switch which cities are exhibiting:

Seattle’s rank for month-over-month modifications fell off steeply late final 12 months however in January it surged again to #2.

Hit the bounce for the remainder of our month-to-month Case-Shiller charts, together with the interactive chart of uncooked index information for all 20 metro areas.

Seattle’s year-over-year worth progress has now been the very best within the nation for over a 12 months, ever since passing Portland in September 2016.

Seven metro areas hit new all-time highs in January: San Francisco, Denver, Atlanta, Charlotte, Portland, Dallas, and Seattle.

Right here’s the interactive chart of the uncooked HPI for all twenty metro areas via January.

Right here’s an replace to the peak-decline graph, impressed by a graph created by reader CrystalBall. This chart takes the twelve metro areas whose peak index was better than 175, and tracks how far they’ve fallen so removed from their peak. The horizontal axis reveals the whole variety of months since every particular person metropolis peaked.

Within the 126 months for the reason that 2007 worth peak in Seattle costs are up 21.eight p.c.

Lastly, let’s see how Seattle’s present costs evaluate to the earlier bubble inflation and subsequent burst. Notice that this chart doesn’t alter for inflation.

Listed below are a pair tales about this month’s numbers:

Test again tomorrow for our take a look at Case-Shiller information for Seattle’s worth tiers.

(Dwelling Worth Indices, Normal & Poor’s, 2018-03-27)

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