Wow where did March go? I apologize for the lack of updates this month! April will be better.
Let’s have a look at the latest data from the Case-Shiller Home Price Index. According to November data that was released this morning, Seattle-area home prices were:
Up 0.6 percent December to January
Up 11.3 percent year-over-year.
Up 7.9 percent from the July 2007 peak
Over the same period a year earlier prices were up 0.1 percent month-over-month and year-over-year prices were up 10.5 percent.
Seattle home prices as measured by Case-Shiller inched up yet again to a new all-time high in January.
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 fell from #2 in December to #3 in January.
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.
Seattle’s year-over-year price growth edged up again from December to January, matching the August high and maintaining its position as the largest in the nation. Again in January, 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 January: Denver, Boston, Charlotte, Portland, Dallas, and Seattle. San Francisco, which had been hitting new highs, fell slightly in the month.
Here’s the interactive chart of the raw HPI for all twenty metro areas through January.
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 114 months since the price peak in Seattle prices are up 7.9 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, 2017-03-28)