Housing Prices Are Up 5.7%

Rich Dad Advisors Real Estate Investing 0 Comments

Housing prices are up 5.7% year-over-year based on the latest Case-Shiller 20-City Index, released last week.

Let’s look, then analyze:

Metro Monthly  change     12-month  change
Atlanta         0.6%                5.3%
Boston         0.7%                6.2%
Charlotte         0.8%                6.0%
Chicago         0.9%                3.2%
Cleveland         0.6%                2.9%
Dallas         0.8%                7.7%
Denver         0.8%                7.6%
Detroit         1.5%                7.6%
Las Vegas         1.0%                7.3%
Los Angeles         0.7%                5.6%
Miami         0.4%                5.0%
Minneapolis         1.0%                5.7%
New York         0.6%                3.9%
Phoenix         0.8%                5.8%
Portland         0.9%                8.2%
San Diego         0.9%                7.1%
San Francisco         0.7%                6.1%
Seattle         1.4%              13.4%
Tampa         0.5%                6.9%
Washington         0.7%                3.1%

Note some limits in the Case-Shiller Data:

  • Though this is a closely-watched index, it only includes 20 cities.
  • This excludes major cities like Philadelphia and Houston, and some of the best cash-flowing markets.
  • This Index reflects repeat sales.
  • The Index compiles single-family home prices.

Here are my top takeaways from Case-Shiller’s Latest Press Release:

  • Both the number of homes for sale and days on the market have declined for 4+ years.
  • Seattle and Portland keep seeing torrid appreciation.
  • Dallas, Denver, and Detroit all experienced gains of 7.6% or more.
  • No Case-Shiller market dropped in value.
  • Mortgage interest rates have dipped again, aiding current affordability.
  • Nationally, 5.7% feels like a sustainable clip.
  • Inventory remains tight.
  • Decreasing affordability in West Coast markets could limit future price growth.
  • Recent purchases are generally supported by “responsible” lending practices.

I invest for cashflow, not appreciation. But we all like appreciation when we can get it!

Want more wealth? I talk real estate investing every week on the Get Rich Education podcast.

Let’s keep hurricane-ravaged Houston in our thoughts.

 

– Keith Weinhold
Contributing Writer | Founder & Host of Get Rich Education

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