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Case-Shiller: Seattle Price Gains Biggest In Nation Again

Posted on June 28, 2016July 7, 2016 by The Tim

Let’s have a look at the latest data from the Case-Shiller Home Price Index. According to January data that was released today, Seattle-area home prices were:

Up 2.1 percent March to April
Up 10.7 percent YOY.
Up 2.5 percent from the July 2007 peak

Over the same period last year prices were up 2.2 percent month-over-month and year-over-year prices were up 7.4 percent.

The Seattle area’s Case-Shiller home price index hit another new all-time high in April, and saw the largest month-over-month gain of all twenty Case-Shiller-tracked cities for the second month in a row.

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:

Powered by Tableau

Seattle’s rank for month-over-month changes hit #1 in March and maintained that rank in April.

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 metro areas.

In April, just one of the twenty Case-Shiller-tracked metro areas gained more year-over-year than Seattle (the same as February):

  • Portland at +12.3%

Once again the Northwest is literally the envy of other states.

Boston joined Seattle, Charlotte, San Francisco, Denver, Portland, and Dallas in the club for metro areas that hit new all-time highs in April.

Eighteen metro areas gained less than Seattle as of April: Denver, San Francisco, Dallas, Tampa, Atlanta, Los Angeles, Miami, Detroit, San Diego, Las Vegas, Phoenix, Boston, Charlotte, Minneapolis, Cleveland, New York, Chicago, and Washington.

Here’s the interactive chart of the raw HPI for all twenty metro areas through April.

Powered by Tableau

Here’s an update to the peak-decline graph, inspired by a graph created by reader CrystalBall. This chart takes the twelve metro areas 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 105 months since the price peak in Seattle prices are up 2.5 percent.

Lastly, let’s see what month in the past Seattle’s current prices most compare to. Note that this chart does not adjust for inflation.

Case-Shiller: Seattle Home Price Index

Check back tomorrow for our monthly look at Case-Shiller data for Seattle’s price tiers.

(Home Price Indices, Standard & Poor’s, 2016-06-28)

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