Seattle Housing Market Is Officially the Most Polished Turd in the Real Estate Toilet
You know the housing market sucks when a negligible 0.1 percent bump in local home prices is greeted with breathless reports of Seattle "bucking the trend" and having "something to brag about."
This despite the fact that Seattle-area home values are still down 7.5 percent from last year and down 30.7 percent over the July 2007 peak.
The new figures were published today in the much-anticipated Case-Shiller Home Price Index report.
Seattle Bubble has the most detailed breakdown of what the numbers mean.
But the short version is that Seattle and Washington D.C. are the only two cities in the country with home values that didn't decrease from last month.
The difference, of course, between a slight decrease and a slight increase is, well, slight.
Here's an interactive chart that tracks Home Price Index changes in a handful of American cities.
The point is that while any increase in local home prices is certainly welcome, a sign that the Puget Sound-area's home woes are over, it is not.
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