Let’s have a look at the latest data from the Case-Shiller Home Price Index. According to May data that was released this morning, Seattle-area home prices were:
Up 1.4 percent April to May
Up 10.7 percent YOY.
Up 3.9 percent from the July 2007 peak
Over the same period last year prices were up 1.4 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 May, but dropped from the largest month-over-month gain of all twenty Case-Shiller-tracked cities in April to number four in May.
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 was at #1 in March and April, but dropped to #4 in May.
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 May, just one of the twenty Case-Shiller-tracked metro areas gained more year-over-year than Seattle (the same as February and March):
- Portland at +12.5%
The Northwest continues its reign on top as literally the envy of other states.
The same seven cities that hit new all-time highs in April did so again in May: Boston, Seattle, Charlotte, San Francisco, Denver, Portland, and Dallas.
Eighteen metro areas gained less than Seattle as of May: Denver, Dallas, Tampa, Miami, San Francisco, San Diego, Atlanta, Boston, Detroit, Los Angeles, Phoenix, Las Vegas, Minneapolis, Charlotte, Chicago, Cleveland, Washington, and New York.
Here’s the interactive chart of the raw HPI for all twenty metro areas through May.
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.
In the 106 months since the price peak in Seattle prices are up 3.9 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.
Check back tomorrow for our monthly look at Case-Shiller data for Seattle’s price tiers.
(Home Price Indices, Standard & Poor’s, 2016-07-26)