Let’s have a look at the latest data from the Case-Shiller Home Price Index. According to August data that was released today, Seattle-area home prices were:
Up 0.3 percent July to August
Up 7.6 percent YOY.
Down 4.4 percent from the July 2007 peak
Last year at this time prices were flat month-over-month and year-over-year prices were up 6.5 percent.
The Seattle area’s month-over-month home price change was slightly smaller in August than the month before, but stronger than last year. As a result, the year-over-year pric change rose to its highest level since June of last year.
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 rank for month-over-month changes rose from #16 in July to #12 in August.
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 August, four of the twenty Case-Shiller-tracked cities gained more year-over-year than Seattle (the same number as July):
- San Francisco at +10.7%
- Denver at +10.7%
- Portland at +9.4%
- Dallas at +8.9%
Denver, Dallas, Portland, and Boston all hit new all-time highs in August.
Fifteen cities gained less than Seattle as of August: Miami, Los Angeles, Tampa, Las Vegas, San Diego, Atlanta, Detroit, Phoenix, Charlotte, Boston, Minneapolis, Cleveland, Washington, Chicago, and New York.
Here’s the interactive chart of the raw HPI for all twenty cities through August.
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-seven months since the price peak in Seattle prices are down 4.4 percent.
Lastly, let’s see what month in the past Seattle’s current prices most compare to. As of August 2015, Seattle prices are approximately where they were in September 2006.
Check back tomorrow for our monthly look at Case-Shiller data for Seattle’s price tiers.
(Home Price Indices, Standard & Poor’s, 2015-10-27)