Typically, home sales cool down in early fall. But this has been a year full of exceptions, including in the housing market.
Rather than slow down in September, Seattle-area home prices rose faster year-over-year than they have since 2018, the last time the housing market peaked, according to the latest release of the S&P CoreLogic Case Shiller Home Price Index.
Home prices continued to rise fastest in Phoenix — 11.4%, year-over-year — but Seattle once again charted the second-fastest growth in the nation, at 10.1%, year-over-year. September was the eighth consecutive month Seattle was second to Phoenix in terms of home price growth.
Price growth in Seattle was in line with a national trend of accelerating price gains in September, said S&P managing director Craig Lazzara in a statement. Nationally, home prices on average rose 7% compared to last year.