Let’s have a look at the latest data from the Case-Shiller Home Price Index. According to October data that was released this week, Seattle-area home prices were:
Down 0.1 percent September to October
Up 12.7 percent year-over-year.
Up 20.0 percent from the July 2007 peak
Over the same period last year prices were up 0.1 percent month-over-month and year-over-year prices were up 10.6 percent.
Seattle still has by far the largest year-over-year price growth, despite falling off just slightly in each of the last three months of data. The only other city with double-digit price growth from a year earlier is Las Vegas at 10.2 percent.
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 a four-month reign on top of the heap between February and May this year, Seattle’s rank for month-over-month changes has dropped to near the bottom of the twenty cities—#19 in September and #14 in October.
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 has now been the highest in the nation for over a year, ever since passing Portland in September 2016.
Four cities hit new all-time highs again in October: San Francisco, Denver, Charlotte, and Dallas.
Here’s the interactive chart of the raw HPI for all twenty metro areas through October.
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 123 months since the price peak in Seattle prices are up 20.0 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.
(Home Price Indices, Standard & Poor’s, 2017-12-26)