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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 1.1% May to June
Up 7.4% YOY.
Down 5.1% from the July 2007 peak
Last year at this time prices rose 1.1% month-over-month and year-over-year prices were up 8.6%.
The Seattle area’s month-over-month home price changes shrank slightly from May to June, but the year-over-year change held steady at pretty much exactly where it’s been since March.
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 #6 in May to #9 in June.
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 June, five of the twenty Case-Shiller-tracked cities gained more year-over-year than Seattle (one more than in May):
- Denver at +10.2%
- San Francisco at +9.2%
- Dallas at +8.2%
- Portland at +7.8%
- Miami at +7.7%
Fourteen cities gained less than Seattle as of June: Los Angeles, Las Vegas, Detroit, Atlanta, Tampa, Charlotte, San Diego, Phoenix, Minneapolis, Boston, Cleveland, New York, Washington, and Chicago.
Here’s the interactive chart of the raw HPI for all twenty cities through June.
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-five months since the price peak in Seattle prices are down 5.1%.
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, 2015-8-25)