Let’s have a look at the latest data from the Case-Shiller Home Price Index. According to January data that was released this week, Seattle-area home prices were:
Up 0.7 percent December to January
Up 12.9 percent year-over-year.
Up 21.8 percent from the July 2007 peak
Over the same period last year prices were up 0.6 percent month-over-month and year-over-year prices were up 11.3 percent.
Seattle still leads the nation in year-over-year price growth. The only other metro areas with double-digit price growth from a year earlier are Las Vegas at 11.1 percent and San Francisco at 10.3 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:
Seattle’s rank for month-over-month changes fell off steeply late last year but in January it surged back to #2.
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.
Seven metro areas hit new all-time highs in January: San Francisco, Denver, Atlanta, Charlotte, Portland, Dallas, and Seattle.
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 126 months since the 2007 price peak in Seattle prices are up 21.8 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.
Here are a couple stories about this month’s numbers:
- Seattle Times: Seattle-area home market heats up yet again, leading the country for 17th straight month
- GeekWire: Seattle home price gains lead the nation for 17th month in a row
Check back tomorrow for our look at Case-Shiller data for Seattle’s price tiers.
(Home Price Indices, Standard & Poor’s, 2018-03-27)