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Condo prices drop from one year to the next in New York. In San Francisco, SoCal and Seattle, year-over-year price gains are almost nothing. Despite the hype, prices in Boston are falling. Denver, Dallas and Atlanta break records.
After seven consecutive months of monthly declines, single-family home prices in the Seattle subway rose 0.57% in February and are now down 5.4% from the June peak of last year , according to the CoreLogic survey. Shiller Home Price Index released this morning. The index is now stable compared to last March and the gain from one year to the next has been reduced to only 2.8%, the thinnest gain of this type since June 2012, as Seattle began to recover after the trough of the housing crisis 1.
And this monthly increase of 0.57% is only one-third of the monthly increase of 1.74% recorded in February 2018. The index remains up nearly 27% from the peak of the housing bubble 1 in Seattle (July 2007):
The Core-Logic Case-Shiller Housing Price Index is a three-month rolling average; This morning's publication represents fences recorded in public archives in December, January and February.
San Francisco Bay Area
After six consecutive months of monthly declines, prices for single-family homes in the five counties of the San Francisco Bay Area – San Francisco counties, San Mateo (northern Silicon Valley), Alameda, Contra Costa (in East Bay) and Marin (North Bay) – increased 0.6% in February.
This leaves the index down 3.7% from last July's peak and the year-over-year gain dropped to just 1.4%, the smallest gain since April 2012, when that the housing crisis 1 had reached its lowest point. The index remains 35% higher at the top of the housing bubble 1:
For the San Francisco Bay Area, Case-Shiller also provides a separate index for condominium prices, which, after eight months of declines, also rose 0.6% in February from January. Condo prices are now down 4.8% from last June's high, hitting a 0.3% gain year-over-year:
A measure of real estate price inflation
The Case-Shiller methodology is based on "sales pairs": it compares the selling price of a house of the current month to the last transaction of the same house, which could have taken place several years before. This eliminates "mix" problems that can distort median price indices and the problems of a few large extreme cases that can distort average price indices. The Case-Shiller index tracks the price of the same house (sales pairs) over time, which helps determine how much more dollars are needed to purchase the purchase. even house: in other words, it follows the buying power of the dollar compared to the same house over time. This makes the index a good measure of real estate price inflation.
The index was set at 100 for January 2000; a value of 200 means that prices have doubled since January 2000. All the markets on this list of the finest real estate bubbles in America, with the exception of Dallas and Atlanta, have more than doubled since that time .
Condos in New York:
Condo prices in the New York subway remained virtually unchanged in February compared to January, down 1.2% from October's peak and 0.2% year-over-year in February compared to February. 'last year. This is the first subway of this list of the most beautiful real estate bubbles in America where prices are down one year on the other:
San Diego:
After six months of declines, real estate prices in the San Diego metro rose 0.9% in February from January and are now down 1.9% from last July's highs. . Compared with last February, the index has increased by only 1.1%:
Los Angeles:
The Case-Shiller index of the Los Angeles metro remained unchanged in February compared with January, leaving it slightly behind (-0.2%) compared to the July peak. The index rose only 1.8% compared to last February:
Boston:
Boston subway housing prices fell 0.4% in February from January and 1.3% from the peak in November. Year-over-year gain eroded to 3.2%:
Portland:
Portland subway housing prices were essentially flat in February compared to January, down 1.6% from July's peak in 2018. Year-over-year gains were down 3.0%:
Condos in New York:
Denver:
After posting slight increases, month after month, from last July's peak, real estate prices in the Denver metro rose 0.9% in February from January. previous peak in July. But the year-over-year gain further decreased to 4.7%:
Dallas-Fort Worth:
The Dallas-Fort Worth Subway Case-Shiller Index improved in February from January to a new record. Since last June, the index has increased by only 0.7%. This leaves the index up 3.4% year-on-year, the lowest price increase since 2012:
Atlanta:
In the Atlanta subway, house prices rose from February to January, reaching record levels in November and December, giving a flat spot at the top. The index is up 4.7% year on year on the other:
Finally, the volume of new home sales has increased. Read … Cut the price and they will come: the prices of new houses fall from the level of December 2014
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