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|
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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