Seattle-area home prices surged 17% over the past year

[Yo_Mama_Been_Loggin]

Seattle-area home prices surged nearly 17% in April over the same month last year, according a report by CoreLogic. In March, single-family home prices were almost 15% more than a year prior. Month over month, home prices gained 2.3% between March and April.

Selma Hepp, deputy economist at CoreLogic, expects this trend will continue in the Puget Sound market.

“With buyer demand running stronger than in the previous couple of years and inventories yet to show signs of notable improvements, home prices in Seattle area are likely to keep growing over the coming months,” she said.

The rise in Seattle home prices exceeds that in other major markets, including San Diego, where prices are rising at 16% and Denver, where prices are growing by 14%.

https://www.bizjournals.com/seattle/news/2021/06/01/home-prices-up-17-percent-in-a-year.html

[Ron Obvious]

1. Last I saw, King County lost population last year

And I see apartment blocks going up all over the place. And yet there's not a single house to be had for under $1 million on the eastside. Add in lots of people working from home who could move anywhere and it's not adding up for me.

Since it doesn't appear to be a supply vs demand issue, it must be an investment bubble heading for another crash.

You just can't time them.