HOUSING PRICES - PACIFIC NORTHWEST

(Click on an image to open larger view)

SEATTLE MSA

HPI Price Walk - All Tiers:

2000 to Peak: Home prices nearly doubled - up 92%, or 8.8% annualized.

Peak to Trough: Decline of 33%, or (8.7)% annualized.

Trough to Current: Home prices surging again - recovering all price losses and up 95%, or 9.1% annualized.

Current from Peak: Home prices are now 31% above peak.

HPI Price Walk - Low Tier:

2000 to Peak: Home prices doubled - up 102%, or 9.5% annualized.

Peak to Trough: Decline of 44%, or (12.2)% annualized.

Trough to Current: Home prices surging again - recovering all price losses and up 129%, or 11.7% annualized.

Current from Peak: Home prices are now 28% above peak.

Home Affordability: Home affordability is much more costly than U.S. averages.

Home "P/E" ratio = 4.8X. Median home purchase is ~5X median family income compared to 3.7X for U.S.

HOI = 41.6%. Only ~42% of families can afford median priced home (NAHB HOI).


PORTLAND MSA

HPI Price Walk - All Tiers:

2000 to Peak: Home prices nearly double and up 87%, or 8.3% annualized.

Peak to Trough: Decline of 31%, or (7.9)% annualized.

Trough to Current: Home prices surging again - recovering all price losses and up 83%, or 8.2% annualized.

Current from Peak: Home prices are now 28% above peak.

HPI Price Walk - Low Tier:

2000 to Peak: Home prices double and up 100%, or 9.1% annualized.

Peak to Trough: Decline of 36%, or (10.3)% annualized.

Trough to Current: Home prices surging again - recovering all price losses and up 130%, or 11.6% annualized.

Current from Peak: Home prices are now 47% above peak.

Home Affordability: Home affordability is much more costly than U.S. averages.

Home "P/E" ratio = 4.4X. Median home purchase is 4.4X median family income compared to 3.7X for U.S.

HOI = 45.3%. Only ~45% of families can afford median priced home (NAHB HOI).