Let’s have a look at the latest data from the Case-Shiller Home Price Index. According to December data, Seattle-area home prices were:
Down 0.5% November to December
Up 12.4% YOY.
Down 17.2% from the July 2007 peak
Last year prices fell 0.5% from November to December and year-over-year prices were up 8.2%.
Home prices in Seattle fell more in December than they did in November, but the decline was the same as a year ago.
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 rose from #13 in November to #18 in December.
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 December, ten of the twenty Case-Shiller-tracked cities gained more year-over-year than Seattle (the same as November):
- Las Vegas at +25.5%
- San Francisco at +22.6%
- Los Angeles at +20.3%
- Atlanta at +18.1%
- San Diego at +18.0%
- Detroit at +16.6%
- Miami at +16.5%
- Tampa at +15.8%
- Phoenix at +15.3%
- Pordland at +13.1%
Nine cities gained less than Seattle as of December: Chicago, Dallas, Minneapolis, Boston, Denver, Washington DC, Charlotte, New York, and Cleveland.
Here’s the interactive chart of the raw HPI for all twenty cities through December.
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-six months since the price peak in Seattle prices have declined 16.7%.
Lastly, let’s see what month in the past Seattle’s current prices most compare to. As of December 2013, Seattle prices are still roughly where they were in September 2005.
Check back tomorrow for a post on the Case-Shiller data for Seattle’s price tiers.
(Home Price Indices, Standard & Poor’s, 2.25.2014)