After spending a couple days looking at incomes and home prices, let’s throw interest rates into the mix as well with an updated look at affordability. As a brief refresher, here’s the formula for calculating the affordability index: While we discuss the broad county-wide affordability trends, don’t forget that you can also play around with…
Category: Counties
County-wide statistics.
Seattle Got Richer Just Before the Housing Bubble
In the comments on yesterday’s post, Jonness took me to task for my claim that the incomes of likely homebuyers saw a notable boost between 1996 and 2001. Ask yourself why house prices have fallen less percentage-wise in Thurston County than King County? Google doesn’t have a campus in Olympia, and very few people down…
Seattle Home Prices Back in Line with Per Capita Incomes
There has been a lot of talk the last week or so in the comments about home prices and incomes. I’ve linked up my September post on the topic a few times, but I thought it would be nice to run an update since it’s been half a year. Here’s my conclusion from that post:…
Case-Shiller Tiers: Low Tier Still Getting Walloped
Let’s check out the three price tiers for the Seattle area, as measured by Case-Shiller. Remember, Case-Shiller’s “Seattle” data is based on single-family home repeat sales in King, Pierce, and Snohomish counties. Note that the tiers are determined by sale volume. In other words, 1/3 of all sales fall into each tier. For more details…
Case-Shiller: Seattle Home Prices Nearly 30% Off Peak
Happy Case-Shiller day, everybody. Yes, it’s time once again for us to take a look at the latest data from the Case-Shiller Home Price Index. According to January data, Seattle home prices were: Down 2.4% December to January. Down 6.7% YOY. Down 29.6% from the July 2007 peak Last year prices fell 1.7% from December…