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 0.4% October to November
Up 6.0% YOY.
Down 11.7% from the July 2007 peak
Last year at this time prices fell 0.1% month-over-month and year-over-year prices were up 12.4%.
Year-over-year price gains inched up in October thanks to month-over-month changes that were slightly higher than last year. Last year prices peaked in September and fell 0.3 percent by October. This year prices peaked in July, but have still fallen by just 0.3 percent as of October.
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 #11 in October to #15 in November. Tampa, Miami, Las Vegas, San Diego, Los Angeles, Phoenix, Atlanta, Dallas, Denver, San Francisco, Portland, Boston, Charlotte, and Cleveland all saw home prices rise more or fall less between October and November 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 November, seven of the twenty Case-Shiller-tracked cities gained more year-over-year than Seattle (two more than in October):
- San Francisco at +8.9%
- Miami at +8.6%
- Las Vegas at +7.7%
- Dallas at +7.7%
- Denver at +7.5%
- Tampa at +6.8%
- Portland at +6.6%
Tweleve cities gained less than Seattle as of November: Los Angeles, Atlanta, San Diego, Boston, Charlotte, Detroit, Chicago, Phoenix, Washington, New York, Minneapolis, and Cleveland.
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 eighty-seven months since the price peak in Seattle prices have declined 11.7%.
Lastly, let’s see what month in the past Seattle’s current prices most compare to. As of November 2014, Seattle prices are still roughly right around where they were in March 2006.
Check back tomorrow for a post on the Case-Shiller data for Seattle’s price tiers.
(Home Price Indices, Standard & Poor’s, 01.27.2015)