Monday, September 30, 2013

Local Real Estate Trends

The Sunday Seattle Times usually offers a real estate Times Watch in the business section of the paper. This past Sunday, the Seattle Times reported that the Case-Shiller home price index was up 12% for home sales in Seattle, from 141.48 in July 2012 to 159.50 this July. The S&P/Case-Shiller 20-city home price index was up 0.62% in July, its 18th consecutive monthly gain, with all 20 metros ahead. Its 12.39% annual gain was its biggest since early 2006. 

There were over 3000 home sales in August of this year, although housing inventory shows little change from last year. Pending Home Sales are still up 5.8% for the year.

Further encouragement came from single-family New Home Sales, up 7.9% in August and 12.6% year-over-year.

Building permits were up 18% in July 2013, from 732 last year to 867 this year; all signs of a solid housing recovery.

My tax assessments for 2013 seem to reflect this price trend in Seattle as well....

Happy investing!

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