Let’s have a look at the latest data from the Case-Shiller Home Price Index. According to January data, Seattle-area home prices were:
Down 0.3% December to January
Up 8.7% YOY.
Down 26.5% from the July 2007 peak
Last year prices fell 0.7% from December to January and year-over-year prices were down 4.0%.
Another month without any real surprises. A typical seasonal drop, but slightly smaller than what we saw at the same time last year, so another bump up in the year-over-year growth.
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):
After coming in near the top in November, Seattle moved up from the #17 spot for month-over-month changes in December to the #13 spot in January:
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 January, eleven of the twenty Case-Shiller-tracked cities gained more year-over-year than Seattle (one more than December):
- Phoenix at +23.2%
- San Francisco at +17.5%
- Las Vegas at +15.3%
- Detroit at +13.8%
- Atlanta, GA at +13.4%
- Los Angeles at +12.1%
- Minneapolis at +12.1%
- Miami at +10.8%
- San Diego at +9.8%
- Denver at +9.2%
- Tampa at +8.9%
Eight cities gained less than Seattle as of January: Portland, Dallas, Charlotte, Washington DC, Cleveland, Boston, Chicago, and New York. New York finally moved into year-over-year gains in January.
Here’s the interactive chart of the raw HPI for all twenty cities through January.
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-six months since the price peak in Seattle prices have declined 26.5%.
Lastly, let’s see just how far back Seattle’s home prices have “rewound.” As of January: Still basically February 2005.
Check back tomorrow for a post on the Case-Shiller data for Seattle’s price tiers.
(Home Price Indices, Standard & Poor’s, 03.26.2013)