Let’s have a look at the latest data from the Case-Shiller Home Price Index. According to August data, Seattle-area home prices were:
Up 0.5% July to August
Up 13.2% YOY.
Down 16.6% from the July 2007 peak
Last year prices fell 0.1% from July to August and year-over-year prices were up 3.4%.
Although the month-over-month price growth slowed considerably, year-over-year growth increased again between July and August.
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 dropped from #9 in July to #20 in August, all the way at the bottom of the stack.
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 August, nine of the twenty Case-Shiller-tracked cities gained more year-over-year than Seattle (the same number as July):
- Las Vegas at +29.2%
- San Francisco at +25.4%
- Los Angeles at +21.7%
- San Diego at +21.5%
- Phoenix at +18.6%
- Atlanta at +18.4%
- Detroit at +16.4%
- Tampa at +14.1%
- Miami at +13.5%
Ten cities gained less than Seattle as of August: Portland, Minneapolis, Denver, Dallas, Chicago, Charlotte, Boston, Washington DC, Cleveland, and New York.
Here’s the interactive chart of the raw HPI for all twenty cities through August.
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-three months since the price peak in Seattle prices have declined 16.6%.
Lastly, let’s see what month in the past Seattle’s current prices most compare to. As of August: Still roughly September 2005.
Check back tomorrow for a post on the Case-Shiller data for Seattle’s price tiers.
(Home Price Indices, Standard & Poor’s, 10.29.2013)