Let’s have a look at the latest data from the Case-Shiller Home Price Index. According to February data, Seattle-area home prices were:
Up 0.6% January to February
Up 12.8% YOY.
Down 17.3% 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 rose between January and February for the first time since 2007.
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 shot up from #19 in January to #3 in February. Only San Diego and Portland saw home prices rise more between January and February 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 February, nine of the twenty Case-Shiller-tracked cities gained more year-over-year than Seattle (one less than January):
- Las Vegas at +23.1%
- San Francisco at +22.7%
- San Diego at +19.9%
- Los Angeles at +18.2%
- Atlanta at +16.1%
- Miami at +16.0%
- Detroit at +15.5%
- Tampa at +13.4%
- Portland at +13.3%
Ten cities gained less than Seattle as of February: Phoenix, Chicago, Dallas, Minneapolis, Denver, Washington DC, Boston, Charlotte, New York, and Cleveland.
Here’s the interactive chart of the raw HPI for all twenty cities through February.
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-eight months since the price peak in Seattle prices have declined 17.3%.
Lastly, let’s see what month in the past Seattle’s current prices most compare to. As of February 2014, Seattle prices are right around where they were in September 2005.
Check back tomorrow for a post on the Case-Shiller data for Seattle’s price tiers.
(Home Price Indices, Standard & Poor’s, 04.29.2014)