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 1.4% April to May
Up 7.4% YOY.
Down 6.1% from the July 2007 peak
Last year at this time prices rose 1.4% month-over-month and year-over-year prices were up 9.3%.
The Seattle area’s month-over-month home price changes shrank slightly from April to May, but the year-over-year change held steady.
Here’s a Tableau Public interactive graph of the year-over-year change for all twenty Case-Shiller-tracked cities. Check and un-check the boxes on the right to modify which cities are showing:
Seattle’s position for month-over-month changes fell from #1 in April to #6 in May. No other metro area saw home prices increase more over the month 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 May, four of the twenty Case-Shiller-tracked cities gained more year-over-year than Seattle (one fewer than in April):
- Denver at +10.0%
- San Francisco at +9.7%
- Dallas at +8.4%
- Miami at +8.0%
Fifteen cities gained less than Seattle as of May: Portland, Las Vegas, Tampa, Los Angeles, Atlanta, Charlotte, San Diego, Detroit, Phoenix, Minneapolis, New York, Boston, Chicago, Cleveland, and Washington.
Here’s the interactive chart of the raw HPI for all twenty cities through May.
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-four months since the price peak in Seattle prices are down 6.1%.
Lastly, let’s see what month in the past Seattle’s current prices most compare to. As of May 2015, Seattle prices are approximately where they were in July 2006.
Check back tomorrow for our monthly look at Case-Shiller data for Seattle’s price tiers.
(Home Price Indices, Standard & Poor’s, 2015-07-28)