Housing prices in Washington state grew by nearly 10 percent in the last year, more than in any other state in the country. Other states with rapid price growth include Arizona (7.1%), California (6.3%), Colorado (8.0%), Florida (7.3%), Idaho (8.6%), Nevada (9.3%), Oregon (6.8%), Texas (6.3%), and Utah (8.0%). These numbers compare average prices from April 2017 through March 2018 with averages from April 2016 through March 2017 from the Federal Housing Finance Agency’s home price index dataset, specifically the state quarterly all-transactions index.
After adjusting for inflation, prices in Colorado, DC, Montana, North Dakota, Nebraska, Oklahoma, Oregon, South Dakota, Tennessee, Texas, Utah, and Washington are higher today than they were at the peak of the mid-2000s housing bubble, but price increases show no real sign of slowing down. Inflation-adjusted prices grew faster in the last year than they did the year before in 36 out of 50 states (as well as DC), and they declined in only one state, North Dakota. Continue reading
