Let’s have a look at the latest data from the Case-Shiller Home Price Index. According to August data that was released this morning, Seattle-area home prices were:
Up 0.5 percent July to August
Up 11.4 percent YOY.
Up 6.5 percent from the July 2007 peak
Over the same period last year prices were up 0.3 percent month-over-month and year-over-year prices were up 7.6 percent.
Surprising no one, Seattle home prices as measured by Case-Shiller hit another new all-time high in August.
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:
After dropping all the way to #12 in July, Seattle’s rank for month-over-month changes moved back up to #5 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 metro areas.
In August, there was still just one of the twenty Case-Shiller-tracked metro areas that gained more year-over-year than Seattle (the same as February through July):
- Portland at +11.7%
Clearly the Northwest will never stop being literally the envy of other states.
Seven cities hit new all-time highs again in August: San Francisco, Boston, Seattle, Charlotte, Denver, Portland, and Dallas.
Eighteen metro areas gained less than Seattle as of August: Denver, Dallas, Tampa, Miami, San Francisco, Los Angeles, San Diego, Charlotte, Detroit, Las Vegas, Atlanta, Phoenix, Minneapolis, Boston, Chicago, Cleveland, Washington, and New York.
Here’s the interactive chart of the raw HPI for all twenty metro areas through August.
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 109 months since the price peak in Seattle prices are up 6.5 percent.
Lastly, let’s see how Seattle’s current prices compare to the previous bubble inflation and subsequent burst. 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, 2016-10-25)