Case-Shiller: Seattle Price Gains Cooled Slightly in April

Let’s have a look at the latest data from the Case-Shiller Home Price Index. According to April data, Seattle-area home prices were:

Up 2.3% March to April
Up 11.2% YOY.
Down 13.8% from the July 2007 peak

Last year prices rose 2.7% from March to April and year-over-year prices were up 11.4%.

Pretty much the usual spring bounce, but smaller than we saw a year ago. We’re actually cooling down a bit by pretty much every measure.

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 held steady at #2 in April. Only Boston saw home prices rise more between March and April than they did in Seattle.

Case-Shiller HPI: Month-to-Month

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 April, seven of the twenty Case-Shiller-tracked cities gained more year-over-year than Seattle (one less than March):

  • Las Vegas at +18.8%
  • San Francisco at +18.2%
  • San Diego at +15.3%
  • Detroit at +15.0%
  • Miami at +14.7%
  • Los Angeles at +14.0%
  • Atlanta at +13.7%

Twelve cities gained less than Seattle as of April: Portland, Chicago, Tampa, Phoenix, Minneapolis, Dallas, Boston, Denver, Washington DC, New York, Charlotte, and Cleveland.

Here’s the interactive chart of the raw HPI for all twenty cities through April.

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.

Case-Shiller HPI: Decline From Peak

In the eighty months since the price peak in Seattle prices have declined 13.8%.

Lastly, let’s see what month in the past Seattle’s current prices most compare to. As of April 2014, Seattle prices are right around where they were in January 2006.

Case-Shiller: Seattle Home Price Index

Check back tomorrow for a post on the Case-Shiller data for Seattle’s price tiers.

(Home Price Indices, Standard & Poor’s, 06.24.2014)

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About The Tim

Tim Ellis is the founder of Seattle Bubble. His background in engineering and computer / internet technology, a fondness of data-based analysis of problems, and an addiction to spreadsheets all influence his perspective on the Seattle-area real estate market. Tim also hosts the weekly improv comedy sci-fi podcast Dispatches from the Multiverse.