Happy new year! I’ve been fairly unplugged over the last couple of weeks, but I’m getting back into the swing of things now that we’re kicking off 2014.
Let’s have a look at the latest data from the Case-Shiller Home Price Index. According to October data, Seattle-area home prices were:
Down 0.3% September to October
Up 13.1% YOY.
Down 16.6% from the July 2007 peak
Last year prices fell 0.2% from September to October and year-over-year prices were up 5.7%.
October saw a flip from rising prices to falling prices month-over-month, which is typical for that time of 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’s position for month-over-month changes fell from #14 in September to #16 in October.
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 October, nine of the twenty Case-Shiller-tracked cities gained more year-over-year than Seattle (one less than September):
- Las Vegas at +27.1%
- San Francisco at +24.6%
- Los Angeles at +22.1%
- San Diego at +19.7%
- Atlanta at +19.0%
- Phoenix at +18.1%
- Detroit at +17.3%
- Miami at +15.8%
- Tampa at +15.2%
Nine cities gained less than Seattle as of October: Portland, Minneapolis, Chicago, Dallas, Denver, Charlotte, Boston, Washington DC, Cleveland, and New York.
Here’s the interactive chart of the raw HPI for all twenty cities through October.
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 seventy-five months since the price peak in Seattle prices have declined 16.6%.
Lastly, let’s see what month in the past Seattle’s current prices most compare to. As of October 2013, Seattle prices are still roughly where they were in October 2005.
Check back tomorrow for a post on the Case-Shiller data for Seattle’s price tiers.
(Home Price Indices, Standard & Poor’s, 12.31.2013)