Let’s have a look at the latest data from the Case-Shiller Home Price Index. According to January data, Seattle-area home prices were:
Down 0.8% December to January
Up 11.9% YOY.
Down 17.8% from the July 2007 peak
Last year prices fell 0.3% from December to January and year-over-year prices were up 8.7%.
Home prices in Seattle fell a bit more in January than they did in December, and more than they did a year ago over the same period.
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 fell from #18 in December to #19 in January. Only Chicago saw home prices fall more in January than they did in Seattle.
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 January, ten of the twenty Case-Shiller-tracked cities gained more year-over-year than Seattle (the same as December):
- Las Vegas at +24.9%
- San Francisco at +23.1%
- San Diego at +19.4%
- Los Angeles at +18.9%
- Atlanta at +16.8%
- Miami at +16.5%
- Detroit at +15.6%
- Tampa at +14.9%
- Phoenix at +13.8%
- Portland at +13.2%
Nine cities gained less than Seattle as of January: Chicago, Dallas, Minneapolis, Washington DC, Boston, Denver, Charlotte, New York, and Cleveland.
Here’s the interactive chart of the raw HPI for all twenty cities through January.
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-seven months since the price peak in Seattle prices have declined 17.8%.
Lastly, let’s see what month in the past Seattle’s current prices most compare to. As of January 2014, Seattle prices are slightly above where they were in August 2005 (the same month this blog was started).
Check back tomorrow for a post on the Case-Shiller data for Seattle’s price tiers.
(Home Price Indices, Standard & Poor’s, 03.25.2014)