The most recent Case-Shiller Home Price Index is once again showing that Seattle's housing market has a strong base. While seasonal changes didn't allow for gains in December, the overall trend continues to be positive for the region.
Seasonally-adjusted home prices in King, Snohomish, and Pierce Counties showed a 0.7 percent month-over-month gain in December. That is in contrast to the small dip in unadjusted prices, which was 0.5 percent. In total, there wasn't much fluctuation in prices at all for the month of December.
That's just fine for the current market, as it continues its slow price growth and rapid turnover of market inventory. Home prices in November were at a two year high, and the overall market is still strong compared to much of the country. The Seattle-area's index shows housing prices are 41.75 percent higher than they were in 2000, a welcome figure considering the rapid decreases of 2007-2009.
Home prices in the Seattle market are projected to rise anywhere from three to five percent in 2013. The long, slow recovery seems to be in place.