Let’s have a look at the latest data from the Case-Shiller Home Price Index. According to July data that was released this morning, Seattle-area home prices were:
Up less than 0.1 percent August to September
Up 11.0 percent YOY.
Up 6.4 percent from the July 2007 peak
Over the same period last year prices were up 0.2 percent month-over-month and year-over-year prices were up 8.2 percent.
Seattle home prices as measured by Case-Shiller just barely hit another new all-time high in September, inching up just a fraction in September.
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 edging up to #5 in August, Seattle’s rank for month-over-month changes dropped to #17 out of 20 in September.
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.
Despite underperforming in September compared most other cities and the same period a year prior, Seattle’s year-over-year price growth was the largest in the nation. In September, none of the twenty Case-Shiller-tracked metro areas gained more year-over-year than Seattle. From February through August Portland had been in the #1 slot above Seattle.
Still more proof that the Northwest will never stop being literally the envy of other states.
Six cities hit new all-time highs again in September: Boston, Seattle, Charlotte, Denver, Portland, and Dallas.
Here’s the interactive chart of the raw HPI for all twenty metro areas through September.
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 110 months since the price peak in Seattle prices are up 6.4 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, 2016-11-29)