Case-Shiller: Seattle Home Price Gains Still Strong in August

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 0.2 percent July to August
Up 13.2 percent year-over-year.
Up 20.4 percent from the July 2007 peak

Over the same period last year prices were up 0.4 percent month-over-month and year-over-year prices were up 11.3 percent.

Here’s an update of the chart I posted last month showing the year-over-year home price changes in all twenty Case-Shiller cities over the past year and a half:

Case-Shiller Year-Over-Year Home Price Change

Seattle still has by far the largest year-over-year price growth, despite falling off just slightly 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:

Seattle’s rank for month-over-month changes dropped #9 in July to #16 in August.

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.

Seattle’s year-over-year price growth dropped off just a bit from its July post-peak high. Even so, yet again in August, none of the twenty Case-Shiller-tracked metro areas gained more year-over-year than Seattle. Not even close.

Seven cities hit new all-time highs again in August: Denver, Atlanta, Boston, Charlotte, Portland, Dallas, and Seattle.

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.

Case-Shiller HPI: Decline From Peak

In the 121 months since the price peak in Seattle prices are up 20.4 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.

Case-Shiller: Seattle Home Price Index

Here are a couple stories about this month’s numbers:

(Home Price Indices, Standard & Poor’s, 2017-10-31)

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About The Tim

Tim Ellis is the founder of Seattle Bubble. His background in engineering and computer / internet technology, a fondness of data-based analysis of problems, and an addiction to spreadsheets all influence his perspective on the Seattle-area real estate market. Tim also hosts the weekly improv comedy sci-fi podcast Dispatches from the Multiverse.