Let’s have a look at the latest data from the Case-Shiller Home Price Index. According to September data, Seattle-area home prices were:
Up 0.3% August to September.
Up 4.8% YOY.
Down 26.1% from the July 2007 peak
Last year prices fell 1.1% from August to September and year-over-year prices were down 6.5%.
Although Seattle was the only city whose HPI fell between July and August, we moved back into the black in September as six other cities showed month-over-month losses.
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 went from the bottom of the heap in August for month-over-month changes back to the middle of the pack in September.
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 September, seven of the twenty Case-Shiller-tracked cities gained more year-over-year than Seattle (three fewer than August):
- Phoenix at +20.4%
- Minneapolis at +8.8%
- Detroit at +7.6%
- San Francisco at +7.5%
- Miami at +7.4%
- Denver at +6.7%
- Tampa, FL at +5.9%
Twelve cities gained less than Seattle (or were falling) as of September: Dallas, San Diego, Los Angeles, Las Vegas, Portland, Charlotte, Washington DC, Boston, Cleveland, Atlanta, Chicago, and New York. Atlanta moved back into the black for the first time since September 2007 (not counting a brief bump during the tax credit).
Here’s the interactive chart of the raw HPI for all twenty cities through September.
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-two months since the price peak in Seattle prices have declined 26.1%.
Lastly, let’s see just how far back Seattle’s home prices have “rewound.” As of September: 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, 11.27.2012)