Let’s have a look at the latest data from the Case-Shiller Home Price Index. According to March data, Seattle-area home prices were:
Up 2.3% February to March
Up 7.5% YOY.
Down 9.4% from the July 2007 peak
Last year at this time prices rose 1.9% month-over-month and year-over-year prices were up 11.6%.
Year-over-year price gains edged up again in March as prices marked their highest month-over-month increase since last April.
Here’s an interactive graph of the year-over-year change for all twenty Case-Shiller-tracked cities. Since Tableau lifted a bunch of the restrictions on their Tableau Public product, I’m back to Tableau. Check and un-check the boxes on the right to modify which cities are showing:
Seattle’s position for month-over-month changes rose from #3 in February to #2 in March. Only San Francisco saw home prices increase more between February and March than they did in Seattle. Yay.
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 March, five of the twenty Case-Shiller-tracked cities gained more year-over-year than Seattle (one more than in February):
- San Francisco at +10.3%
- Denver at +10.0%
- Dallas at +9.3%
- Miami at +8.7%
- Tampa at +8.1%
Fourteen cities gained less than Seattle as of March: Portland, Charlotte, Las Vegas, Los Angeles, Atlanta, San Diego, Boston, Detroit, Chicago, Phoenix, Minneapolis, New York, Washington, and Cleveland.
Here’s the interactive chart of the raw HPI for all twenty cities through March.
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 ninety-two months since the price peak in Seattle prices are still down 9.4%.
Lastly, let’s see what month in the past Seattle’s current prices most compare to. As of March 2015, Seattle prices are still closest to where they were in May 2006.
Check back tomorrow for a post on the Case-Shiller data for Seattle’s price tiers.
(Home Price Indices, Standard & Poor’s, 2015-05-26)