Let’s have a look at the latest data from the Case-Shiller Home Price Index. According to August data, Seattle-area home prices were:
Down 0.1% July to August.
Up 3.4% YOY.
Down 26.3% from the July 2007 peak
Last year prices fell 0.3% from July to August and year-over-year prices were down 6.1%.
Almost every city showed month-over-month gains again… Seattle was the first to dip a bit heading into the slow season. Both composite indices moved further into the black year-over-year.
Here’s an interactive graph of the year-over-year change for all twenty Case-Shiller-tracked cities, courtesy of Tableau Software (check and un-check the boxes on the right):
Seattle went from the middle of the pack in July for month-over-month changes to all the way at the bottom in August.
Hit the jump for the rest of our monthly Case-Shiller charts, including the interactive chart of raw index data for all 20 cities.
In August, ten of the twenty Case-Shiller-tracked cities gained more year-over-year than Seattle (the same number as July):
- Phoenix at +18.8%
- Detroit at +7.6%
- Minneapolis at +7.4%
- Miami at +6.7%
- Denver at +5.5%
- San Francisco at +5.3%
- Washington, DC at +4.3%
- Tampa, FL at +4.2%
- Portland at +3.6%
- Dallas at +3.6%
Nine cities gained less than Seattle (or were falling) as of August: Charlotte, Los Angeles, San Diego, Boston, Cleveland, Las Vegas, Chicago, New York, and Atlanta. Interestingly, Las Vegas actually inched into the black for the first time since January 2007.
Here’s the interactive chart of the raw HPI for all twenty cities through August.
Here’s an update to the peak-decline graph, inspired by a graph created by reader CrystalBall. This chart takes the twelve cities whose peak index was greater than 175, and tracks how far they have fallen so far from their peak. The horizontal axis shows the total number of months since each individual city peaked.
In the sixty-one months since the price peak in Seattle prices have declined 26.3%.
Lastly, let’s see just how far back Seattle’s home prices have “rewound.” As of August: February 2005.
Check back tomorrow for a post on the Case-Shiller data for Seattle’s price tiers.
(Home Price Indices, Standard & Poor’s, 10.30.2012)