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New York metro: +0.9% for the month, and +13.5% year-over-year.

Las Vegas metro: +1.7% for the month, and +26.2% year-over-year:ĭallas metro: +1.9% for the month, and a record +27.3% year-over-year:

metro: +1.1% for the month, and +11.2% year-over-year:ĭenver metro: +1.6% for the month, and +20.8% year-over-year: Portland metro: The Case-Shiller Index rose by 0.9% for the month, and 17.7% year-over-year:īoston metro: +0.7% for the month, and +13.3% year-over-year: The year-over-year price spikes have been over 30% starting last July: Phoenix metro: House prices spiked by 1.7% for the month, and by a record 32.6% year-over-year, out-spiking the craziness just before the housing bust. Tampa metro: House prices spiked by 2.3% for the month, and by 30.8% year-over-year, a record spike for the Tampa metro, out-spiking even the crazy spikes on the eve of the housing bust: Miami metro: House prices spiked 1.8% for the month, and 28.1% year-over-year, the fastest since February 2006, on the eve of its epic Housing Bust: Since June 2018, condo prices have risen just 4.0%: Since July last year, prices have remained roughly flat. San Francisco Bay Area: Condo prices edged up 0.1% for the month, after having ticked down four months in a row. San Francisco Bay Area: House prices spiked 2.4% for the month, and by 20.9% year-over-year: Since January 2000, house price inflation in the Seattle metro has ballooned to 265%: Seattle metro: The Case-Shiller Index spiked 2.0% for the month, and 24.7% year-over-year. By tracking how many dollars it takes to buy the same house over time, the index measures house price inflation. The index includes adjustments for home improvements and the passage of time between sales. The Case-Shiller Index is based on the “sales pairs” method, comparing the sales price of a house when it sells in the current period to the price of the same house when it sold previously. Since 2000, house prices have ballooned by 284%: San Diego metro: Prices of single family houses spiked 2.5% for the month, and 27.1% year-over-year. The index value of 385 means that home prices shot by 285% since January 2000, which crowns the Los Angeles metro as the Number 1 most splendid housing bubble on this list. Los Angeles metro: Prices of single-family houses jumped 1.6% in January from December and 19.9% year-over-year. This means that the overall index, with an index value of 282 for “January,” shot up by 182% since January 2000, more than four times the rate of CPI inflation. The Case-Shiller Home Price Indices were set at 100 for January 2000. The overall National Case-Shiller Home Price Index for “January” jumped 1.1% from December and 19.2% year-over-year. There was a mad scramble to get the deals done late last year and earlier this year before mortgage rates would rise, and this mad scramble is reflected here. Now, the average 30-year fixed mortgage rate is flirting with 5%, according to Mortgage News Daily, and today’s home price data is still untouched by that spike in mortgage rates: The “January” home price data released today are a three-month moving average of closed sales that were entered into public records in November, December, and January, reflecting deals and mortgages that were agreed to roughly in October through December, when the average 30-year fixed mortgage rate was around 3.2%. But these prices predate the Great American Mortgage Rate Spike. So now we have a new snapshot of the incredibly spiking home prices, topping out at over 30% year-over-year in Phoenix and Tampa, according to the S&P CoreLogic Case-Shiller Home Price Index today. Raging mania to lock in mortgage rates when they were still at 3.2%.