According to the S&P/Case-Shiller 20-city index, December Seattle-area home prices rose 0.3 percent from November to December and are now 9.9 percent higher than they were a year ago. That's better than November when inventory hit an all-time low.
Average home prices in the Seattle metro area are now only three percent lower than they were in the summer of 2007 when the market peaked.
All of this says that Seattle's housing price pace is gaining steam and doesn't show much sign of slowing down. The city trails only Portland (11.4 percent), San Francisco (10.3) and Denver (10.2) in terms of annual price increases.
Seattle Bubble has some charts that give you a visual idea of just how much Seattle prices have rebounded since 2007.
· Seattle metro-area home prices up nearly 10 percent in a year [CS] · Case-Shiller: Home Prices Finish 2015 on a Strong Note [SB]