Let’s have a look at the latest data from the Case-Shiller Home Price Index. According to May data, Seattle-area home prices were:
Up 3.1% April to May
Up 11.9% YOY.
Down 20.1% from the July 2007 peak
Last year prices rose 2.6% from April to May and year-over-year prices were up 0.6%.
Still no surprises, given the price May data we’ve seen from other sources already.
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 #7 in April to #5 in May.
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 May, ten of the twenty Case-Shiller-tracked cities gained more year-over-year than Seattle (the same number as April):
- San Francisco at +24.5%
- Las Vegas at +23.3%
- Phoenix at +20.6%
- Atlanta at +20.1%
- Los Angeles at +19.2%
- Detroit at +19.1%
- San Diego at +17.3%
- Miami at +14.2%
- Minneapolis at +14.1%
- Portland at +12.5%
Nine cities gained less than Seattle as of May: Tampa, Denver, Chicago, Dallas, Boston, Charlotte, Washington DC, Cleveland, and New York.
Here’s the interactive chart of the raw HPI for all twenty cities through May. If you want a surprise, check out Denver and Dallas.
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 months since the price peak in Seattle prices have declined 20.1%.
Lastly, let’s see just how far back Seattle’s home prices have “rewound.” As of May: June 2005.
Check back tomorrow for a post on the Case-Shiller data for Seattle’s price tiers.
(Home Price Indices, Standard & Poor’s, 07.30.2013)