Let’s have a look at the latest data from the Case-Shiller Home Price Index. According to April data, Seattle-area home prices were:
Up 2.0% March to April.
Down 1.0% YOY.
Down 30.4% from the July 2007 peak
Last year prices rose 1.6% from March to April and year-over-year prices were down 6.9%.
Inching ever closer to flat year-over-year. As of April, half of the twenty markets tracked by Case-Shiller are in the black compared to a year ago. Portland and Seattle will most likely be the next to tip out of the red.
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):
In April only one city fell month-over-month: Detroit. Seattle’s monthly gain was in the middle of the pack.
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 April, eleven of the twenty Case-Shiller-tracked cities experienced smaller year-over-year drops (or saw increases) than Seattle (versus ten in March):
- Phoenix at +8.6%
- Minneapolis at +3.8%
- Miami at +3.2%
- Dallas at +2.8%
- Denver at +2.8%
- Washington, DC at +1.6%
- Detroit at +1.2%
- Tampa, FL at +0.8%
- Charlotte at +0.8%
- Boston at +0.1%
- Portlnd at -0.9%
Eight cities were falling faster than Seattle as of April: Cleveland, San Francisco, San Diego, Los Angeles, New York, Chicago, Las Vegas, and Atlanta.
Here’s the interactive chart of the raw HPI for all twenty cities through April.
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 fifty-seven months since the price peak in Seattle prices have declined 30.4%.
Lastly, let’s see just how far back Seattle’s home prices have “rewound.” As of April: July 2004.
Check back tomorrow for a post on the Case-Shiller data for Seattle’s price tiers.
(Home Price Indices, Standard & Poor’s, 06.26.2012)