Let’s have a look at the latest data from the Case-Shiller Home Price Index. According to March data that was released this morning, Seattle-area home prices were:
Up 2.6 percent February to March
Up 12.3 percent year-over-year.
Up 12.7 percent from the July 2007 peak
Over the same period last year prices were up 2.4 percent month-over-month and year-over-year prices were up 10.9 percent.
Seattle home prices as measured by Case-Shiller shot up yet again to a new all-time high in March, and let the nation in month-over-month and year-over-year price gains for the second month in a row.
The near hockey-stick shape of some of these home price charts is starting to concern me.