Case-Shiller: Seattle Home Prices Boosted in February

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 0.9% January to February
Up 7.1% YOY.
Down 11.4% from the July 2007 peak

Last year at this time prices rose 0.6% month-over-month and year-over-year prices were up 12.8%.

Year-over-year price gains edged up again in February with another big month-over-month gain as well.

Here’s an interactive graph of the year-over-year change for all twenty Case-Shiller-tracked cities, in a Plot.ly chart since Tableau seems to have decided that the version I’m running is obsolete. You can still add or remove cities by clicking them on the left, or use the controls at the top right to zoom and scale.

Case-Shiller HPI: Year-Over-Year Change

Seattle’s position for month-over-month changes rose from #19 in January to #3 in February. Only San Francisco and Denver saw home prices increase more between January and February 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 February, four of the twenty Case-Shiller-tracked cities gained more year-over-year than Seattle (one less than in January):

  • Denver at +10.0%
  • San Francisco at +9.8%
  • Miami at +9.2%
  • Dallas at +8.6%

Fifteen cities gained less than Seattle as of February: Portland, Tampa, Los Angeles, Las Vegas, Atlanta, Charlotte, Boston, San Diego, Detroit, Chicago, Minneapolis, Phoenix, New York, Cleveland, and Washington.

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

Case-Shiller Home Price Index

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 ninety-one months since the price peak in Seattle prices have declined 11.4%.

Lastly, let’s see what month in the past Seattle’s current prices most compare to. As of February 2015, Seattle prices are still closest to where they were in March 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, 04.28.2015)

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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.