Case-Shiller November: Seattle Playing Catch-Up

Home prices in Seattle continued their slide in November, according to the latest data from the Case-Shiller Home Price Index.

Down 1.43% October to November.
Up 1.77% YOY.

That’s the fourth month-to-month decline in a row, and a year-to-year increase of barely more than half of October’s already paltry 3.30%. Here’s the usual graph, with L.A. & San Diego offset from Seattle & Portland by 17 months. I had to re-align the vertical axis, since San Diego is now seeing nearly -15% year-to-year declines. Ouch.

Case-Shiller HPI - West Coast
Click to enlarge

And yet again, here’s all twenty cities tracked by Case-Shiller, with no time-shifting.

Case-Shiller HPI - All Cities
Click to enlarge

Yowzers. It looks like a race to the bottom. But don’t pay attention to all that “doom and gloom” data. Just follow your gut and jump right into an enormous loan on a depreciating asset. You know you want to.

(Home Price Indices, Standard & Poor’s, 01.29.2008)

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About The Tim

Tim Ellis is the founder of Seattle Bubble. His background in engineering and computer / internet technology, a fondness of data-based analysis of problems, and an addiction to spreadsheets all influence his perspective on the Seattle-area real estate market. Tim also hosts the weekly improv comedy sci-fi podcast Dispatches from the Multiverse.