The S&P/Case-Shiller 20-city index for February 2015 is out and the average price of existing single-family homes in King, Snohomish and Pierce counties was up 1.4 percent from January. That's double the percentage in the previous month and the Seattle-area has now posted a 7.1 percent average gain over the last year. While it's no San Francisco (3.3 percent MOM gain), Seattle's numbers are higher than the 20-city index average (0.9 percent). As Seattle Bubble notes, only San Francisco and Denver saw bigger home prices increases between January and February. So long as inventory stays where it's at, don't expect to see much change with this trend.
· Seattle home-price gains pick up speed [ST]
· Case-Shiller: Seattle Home Prices Boosted in February [SB]
· Inventory Lag Drives Seattle Home Prices Up 18.9% From 2014 [CS]