Seattle Leads Nation Yet Again in Home Price Growth
The S&P CoreLogic Case-Shiller Home Price Index report was released earlier this week, and Seattle once again topped the nation in home price growth for it’s 18th month in a row. Though gains started slipping last summer, they rebounded with a monthly increase of 1.74 percent in February, up from January’s 0.72 percent jump. With a 12.74 percent average growth in year-over-year prices, Seattle held steady at the 12.7% increase we saw in the fall of 2017. The closest competitor is San Francisco, which logged an increase of just over 10%.
An official report by S&P Dow-Jones made note of Seattle’s strong economy, as the Emerald City “enjoyed both the largest gain in employment and in home prices over the 12 months ended in February 2018,” while “in San Francisco and Los Angeles, home price gains ranked much higher than would be expected from their employment increases, indicating that California home prices continue to rise faster than might be expected.”
See the chart below for Seattle’s comparative performance on the index; and for more details, download the S&P Dow Jones Case-Shiller summary report.
For more information on the implications for homes in your neighborhood, read RSIR’s 2017/2018 Market Report with a special timeline on Seattle’s 2017 performance or contact me for my latest analysis.