Let’s have a look at the latest data from the Case-Shiller Home Price Index. According to November data, Seattle-area home prices were:
Down 0.1% October to November
Up 12.4% YOY.
Down 16.7% from the July 2007 peak
Last year prices rose 0.5% from October to November and year-over-year prices were up 7.4%.
Home prices in Seattle actually dropped slightly less in November than they did in October, but since prices rose over the same period last year, the year-over-year growth slowed considerably.
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 #16 in October to #13 in November.
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 November, ten of the twenty Case-Shiller-tracked cities gained more year-over-year than Seattle (one more than October):
- Las Vegas at +27.3%
- San Francisco at +23.2%
- Los Angeles at +21.6%
- San Diego at +18.7%
- Atlanta at +18.5%
- Detroit at +17.3%
- Phoenix at +16.7%
- Miami at +16.5%
- Tampa at +15.7%
- Pordland at +12.5%
Nine cities gained less than Seattle as of November: Chicago, Minneapolis, Dallas, Boston, Denver, Charlotte, Washington DC, Cleveland, and New York.
Here’s the interactive chart of the raw HPI for all twenty cities through November.
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-six months since the price peak in Seattle prices have declined 16.7%.
Lastly, let’s see what month in the past Seattle’s current prices most compare to. As of November 2013, Seattle prices are still roughly where they were in October 2005.
Check back tomorrow for a post on the Case-Shiller data for Seattle’s price tiers.
(Home Price Indices, Standard & Poor’s, 01.28.2014)