Let’s have a look at the latest data from the Case-Shiller Home Price Index. According to July data that was released this morning, Seattle-area home prices were:
Up 0.6 percent June to July
Up 13.5 percent year-over-year.
Up 20.2 percent from the July 2007 peak
Over the same period last year prices were up 0.6 percent month-over-month and year-over-year prices were up 11.2 percent.
To get a sense of just how nuts it is here in Seattle compared to pretty much everywhere else, consider this chart of year-over-year home price changes in all twenty Case-Shiller cities over the past year and a half…