Update: Spokane historical home price trends

One week ago I presented a chart showing historical home prices since 1996 for Spokane.  This chart is shown again, below, for comparison.

For comparison, here is a chart showing historical national home prices, from the Federal Reserve Bank of Dallas. The charts show different periods on the horizontal access but are still useful.

And from the Dallas Fed:

With nearly half of total bank assets backed by real estate, both homeowners on the cusp of negative equity and the banking system as a whole remain concerned amid the resumption of home price declines.[8] This unease highlights the housing market’s fragility and suggests there may be no pain-free path to the eventual righting of the market. No perfect solution to the housing crisis exists. The latest price declines will undoubtedly cause more economic dislocation. As the crisis enters its fifth year, uncertainty is as prevalent as ever and continues to hinder a more robust economic recovery. Given that time has not proven beneficial in rendering pricing clarity, allowing the market to clear may be the path of least distress.

 

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