Seattle-area home price growth from current boom has surpassed last decade’s bubble

Photo credit: Seattle Times

Mike Rosenberg | Seattle Times 

As the Seattle area continues its run as the nation’s hottest real estate market, it has now seen home prices surge upward for a full six years — with more growth in home values during the current boom than during last decade’s bubble.

Single-family home costs across the metro area grew 12.7 percent in February from the year before, the biggest increase in the nation for the 18th month in a row, according to the monthly Case-Shiller home price index, released Tuesday.

The report marked six years since home values bottomed out in February 2012. Since then, home values have increased 85 percent — nearly triple the region’s historical average for a typical six-year span. Only San Francisco and Las Vegas had bigger gains during that period.

Seattle-area home price growth from current boom has surpassed last decade’s bubble _ The Seattle Times