It should come as no surprise that home prices continue to soar as the economy improves and more people enter what increasingly seems like an elbow-throwing, cash-hurling scuffle to secure the few homes available for sale.
But one region is seeing particularly dramatic gains. In the Pacific Northwest, homes are appreciating several times faster than inflation.
Nationwide, home prices jumped 5.3% in February compared with a year ago, according to the most recent data from the SP/Case-Shiller Home Price Indices. But they remained relatively flat from January. The report looked only at existing, detached, single-family homes and not newly constructed residences.
“In a number of markets, especially in the Pacific Northwest, prices are rising quite