{"id":105545,"date":"2018-11-27T08:25:54","date_gmt":"2018-11-27T16:25:54","guid":{"rendered":"https:\/\/seattlebubble.com\/blog\/?p=105545"},"modified":"2018-11-27T08:28:18","modified_gmt":"2018-11-27T16:28:18","slug":"case-shiller-seattle-is-1-for-month-over-month-price-declines","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2018\/11\/27\/case-shiller-seattle-is-1-for-month-over-month-price-declines\/","title":{"rendered":"Case-Shiller: Seattle is #1! \u2026for month-over-month price declines"},"content":{"rendered":"<p>Let&#8217;s have a look at the latest data from the <a title=\"S&amp;P\/Case-Shiller\u00ae Home Price Indices\" href=\"http:\/\/us.spindices.com\/index-family\/real-estate\/sp-case-shiller\">Case-Shiller Home Price Index<\/a>. According to September data that was released today, Seattle-area home prices were:<\/p>\n<blockquote><p><strong>Down<\/strong> 1.3 percent August to September<br \/>\n<strong>Up<\/strong> 8.4 percent YOY.<br \/>\n<em>Up<\/em> 30.2 percent from the July 2007 peak<\/p><\/blockquote>\n<p>Last year at this time prices were down 0.3 percent month-over-month and year-over-year prices were up 12.9 percent.<\/p>\n<p>Seattle&#8217;s streak of dead last for month-over-month price changes increased to three months in September. Quite a flip from the four-month streak at #1 earlier in the year.<\/p>\n<p>Seattle is still at #3 in year-over-year price growth, but falling fast. Two metro areas had higher price growth from a year earlier in September: Las Vegas at 13.5 percent and San Francisco at 9.9 percent.<\/p>\n<p style=\"font-size: 0.8em; text-align: center;\"><a title=\"Case-Shiller Year-Over-Year Home Price Change - Click to enlarge\" href=\"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2018\/11\/Case-Shiller-YOY-recent_2018-09.png\" rel=\"lightbox[105545]\"><img decoding=\"async\" title=\"Case-Shiller Year-Over-Year Home Price Change - Click to enlarge\" src=\"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2018\/11\/Case-Shiller-YOY-recent_2018-09.png\" alt=\"Case-Shiller Year-Over-Year Home Price Change\" style=\"border:0;\" \/><\/a><\/p>\n<p>Here&#8217;s a <a href=\"http:\/\/public.tableausoftware.com\/\" title=\"Tableau Software\">Tableau Public<\/a> 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:<\/p>\n<div style=\"height: 800px; margin: 0 auto;\">\n<div class='tableauPlaceholder' id='viz1537896000916' style='position: relative'>\n\t\t<noscript><br \/>\n\t\t\t<a href='https:\/\/seattlebubble.com\/blog\/2018\/11\/27\/case-shiller-seattle-is-1-for-month-over-month-price-declines\/'><img alt='YOY Change ' src='https:&#47;&#47;public.tableau.com&#47;static&#47;images&#47;Ca&#47;Case-Shiller-YOY&#47;YOYChange&#47;1_rss.png' style='border: none' \/><\/a><br \/>\n\t\t<\/noscript><br \/>\n\t\t<object class='tableauViz'  style='display:none;'><param name='host_url' value='https%3A%2F%2Fpublic.tableau.com%2F' \/><param name='embed_code_version' value='3' \/><param name='site_root' value='' \/><param name='name' value='Case-Shiller-YOY&#47;YOYChange' \/><param name='tabs' value='no' \/><param name='toolbar' value='yes' \/><param name='static_image' value='https:&#47;&#47;public.tableau.com&#47;static&#47;images&#47;Ca&#47;Case-Shiller-YOY&#47;YOYChange&#47;1.png' \/><param name='animate_transition' value='yes' \/><param name='display_static_image' value='yes' \/><param name='display_spinner' value='yes' \/><param name='display_overlay' value='yes' \/><param name='display_count' value='yes' \/><param name='filter' value='publish=yes' \/><\/object>\n\t<\/div>\n<p>\t<script type='text\/javascript'>\n\t\tvar divElement = document.getElementById('viz1537896000916');\n\t\tvar vizElement = divElement.getElementsByTagName('object')[0];\n\t\tvizElement.style.width='700px';vizElement.style.height='727px';\n\t\tvar scriptElement = document.createElement('script');\n\t\tscriptElement.src = 'https:\/\/public.tableau.com\/javascripts\/api\/viz_v1.js';\n\t\tvizElement.parentNode.insertBefore(scriptElement, vizElement);\n\t<\/script>\n<\/div>\n<p>Here&#8217;s how the month-over-month price changes looked for all twenty markets:<\/p>\n<p style=\"font-size: 0.8em; text-align: center;\"><a title=\"Case-Shiller HPI: Month-to-Month - Click to enlarge\" href=\"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2018\/11\/Case-ShillerHPI_MOM_2018-09.png\" rel=\"lightbox[105545]\"><img decoding=\"async\" title=\"Case-Shiller HPI: Month-to-Month - Click to enlarge\" src=\"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2018\/11\/Case-ShillerHPI_MOM_2018-09.png\" alt=\"Case-Shiller HPI: Month-to-Month\" style=\"border:0;\" \/><\/a><\/p>\n<p>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.<\/p>\n<p><!--more-->Just three metro areas hit new all-time highs in September (down from 11 in July and 6 in August): Atlanta, Charlotte, and Cleveland. Those are definitely not the typically &#8220;hot&#8221; markets.<\/p>\n<p>Here&#8217;s the interactive chart of the raw HPI for all twenty metro areas through September.<\/p>\n<div style=\"height: 800px; margin: 0 auto;\">\n<div class='tableauPlaceholder' id='viz1537896938325' style='position: relative'>\n\t\t<noscript><br \/>\n\t\t\t<a href='https:\/\/seattlebubble.com\/blog\/2018\/11\/27\/case-shiller-seattle-is-1-for-month-over-month-price-declines\/'><img alt='Case-Shiller HPI ' src='https:&#47;&#47;public.tableau.com&#47;static&#47;images&#47;Ca&#47;Case-Shiller&#47;Case-ShillerHPI&#47;1_rss.png' style='border: none' \/><\/a><br \/>\n\t\t<\/noscript><br \/>\n\t\t<object class='tableauViz'  style='display:none;'><param name='host_url' value='https%3A%2F%2Fpublic.tableau.com%2F' \/><param name='embed_code_version' value='3' \/><param name='site_root' value='' \/><param name='name' value='Case-Shiller&#47;Case-ShillerHPI' \/><param name='tabs' value='no' \/><param name='toolbar' value='yes' \/><param name='static_image' value='https:&#47;&#47;public.tableau.com&#47;static&#47;images&#47;Ca&#47;Case-Shiller&#47;Case-ShillerHPI&#47;1.png' \/><param name='animate_transition' value='yes' \/><param name='display_static_image' value='yes' \/><param name='display_spinner' value='yes' \/><param name='display_overlay' value='yes' \/><param name='display_count' value='yes' \/><param name='filter' value='publish=yes' \/><\/object>\n\t<\/div>\n<p>\t<script type='text\/javascript'>\n\t\tvar divElement = document.getElementById('viz1537896938325');\n\t\tvar vizElement = divElement.getElementsByTagName('object')[0];\n\t\tvizElement.style.width='700px';vizElement.style.height='727px';\n\t\tvar scriptElement = document.createElement('script');\n\t\tscriptElement.src = 'https:\/\/public.tableau.com\/javascripts\/api\/viz_v1.js';\n\t\tvizElement.parentNode.insertBefore(scriptElement, vizElement);\n\t<\/script>\n<\/div>\n<p>Here&#8217;s an update to the peak-decline graph, inspired by a graph <a title=\"Comment by CrystalBall\" href=\"https:\/\/seattlebubble.com\/blog\/2008\/01\/29\/case-shiller-november-seattle-playing-catch-up\/#comment-38661\">created by reader CrystalBall<\/a>. 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.<\/p>\n<p style=\"font-size: 0.8em; text-align: center;\"><a title=\"Case-Shiller HPI: Decline From Peak - Click to enlarge\" href=\"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2018\/11\/Case-ShillerHPI_Decline-From-Peak_2018-09.png\" rel=\"lightbox[105545]\"><img decoding=\"async\" title=\"Case-Shiller HPI: Decline From Peak - Click to enlarge\" src=\"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2018\/11\/Case-ShillerHPI_Decline-From-Peak_2018-09.png\" alt=\"Case-Shiller HPI: Decline From Peak\" style=\"border:0;\" \/><\/a><\/p>\n<p>In the 134 months since the 2007 price peak in Seattle prices are up 30.2 percent.<\/p>\n<p>Lastly, let&#8217;s see how Seattle&#8217;s current prices compare to the previous bubble inflation and subsequent burst. Note that this chart does not adjust for inflation.<\/p>\n<p style=\"margin: 5px auto; font-size: 0.8em; text-align: center;\"><a href=\"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2018\/11\/Case-ShillerHPI_Seattle-Reverting_2018-09.png\" title=\"Case-Shiller: Seattle Home Price Index\" rel=\"lightbox[105545]\"><img decoding=\"async\" src=\"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2018\/11\/Case-ShillerHPI_Seattle-Reverting_2018-09.png\" style=\"border: 0;\" title=\"Case-Shiller: Seattle Home Price Index - Click to enlarge\" alt=\"Case-Shiller: Seattle Home Price Index\" \/><\/a><\/p>\n<p>The latest few data points in this chart definitely look quite a bit different than recent years&#8217; seasonal flattening. To be honest it looks a lot more like it did in late 2007\u2026<\/p>\n<p>Here&#8217;s the Seattle Times&#8217; story about this month&#8217;s numbers: <a href=\"https:\/\/www.seattletimes.com\/business\/real-estate\/metro-seattle-home-prices-falling-at-fastest-rate-in-u-s\/\" title=\"Metro Seattle home prices falling at fastest rate in U.S.\">Metro Seattle home prices falling at fastest rate in U.S.<\/a><\/p>\n<p>(<em>Home Price Indices, <a title=\"S&amp;P\/Case-Shiller\u00ae Home Price Indices\" href=\"http:\/\/us.spindices.com\/index-family\/real-estate\/sp-case-shiller\">Standard &amp; Poor&#8217;s<\/a>, 2018-11-27<\/em>)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Let&#8217;s have a look at the latest data from the Case-Shiller Home Price Index. According to September data that was released today, Seattle-area home prices were:<\/p>\n<blockquote><p><strong>Down<\/strong> 1.3 percent August to September<br \/>\n<strong>Up<\/strong> 8.4 percent YOY.<br \/>\n<em>Up<\/em> 30.2 percent from the July 2007 peak<\/p><\/blockquote>\n<p>Last year at this time prices were down 0.3 percent month-over-month and year-over-year prices were up 12.9 percent.<\/p>\n","protected":false},"author":2,"featured_media":105548,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"On the blog: Case-Shiller: Seattle is #1! \u2026for month-over-month price declines","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[8,616],"tags":[136,86,222,200,531],"coauthors":[1158],"class_list":["post-105545","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-stats","category-counties","tag-california","tag-case-shiller","tag-graphs","tag-statistics","tag-tableau"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Case-Shiller: Seattle is #1! \u2026for month-over-month price declines \u2022 Seattle Bubble<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/seattlebubble.com\/blog\/2018\/11\/27\/case-shiller-seattle-is-1-for-month-over-month-price-declines\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Case-Shiller: Seattle is #1! \u2026for month-over-month price declines \u2022 Seattle Bubble\" \/>\n<meta name=\"twitter:description\" content=\"Let&#039;s have a look at the latest data from the Case-Shiller Home Price Index. According to September data that was released today, Seattle-area home prices were:  Down 1.3 percent August to September Up 8.4 percent YOY. Up 30.2 percent from the July 2007 peak Last year at this time prices were down 0.3 percent month-over-month and year-over-year prices were up 12.9 percent.\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2018\/11\/Case-ShillerHPI_MOM_2018-09.png\" \/>\n<meta name=\"twitter:creator\" content=\"@The_Tim\" \/>\n<meta name=\"twitter:site\" content=\"@SeattleBubble\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"The Tim\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/2018\/11\/27\/case-shiller-seattle-is-1-for-month-over-month-price-declines\/\",\"url\":\"https:\/\/seattlebubble.com\/blog\/2018\/11\/27\/case-shiller-seattle-is-1-for-month-over-month-price-declines\/\",\"name\":\"Case-Shiller: Seattle is #1! \u2026for month-over-month price declines \u2022 Seattle Bubble\",\"isPartOf\":{\"@id\":\"https:\/\/seattlebubble.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/seattlebubble.com\/blog\/2018\/11\/27\/case-shiller-seattle-is-1-for-month-over-month-price-declines\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/seattlebubble.com\/blog\/2018\/11\/27\/case-shiller-seattle-is-1-for-month-over-month-price-declines\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2018\/11\/Case-ShillerHPI_MOM_2018-09.png\",\"datePublished\":\"2018-11-27T16:25:54+00:00\",\"dateModified\":\"2018-11-27T16:28:18+00:00\",\"author\":{\"@id\":\"https:\/\/seattlebubble.com\/blog\/#\/schema\/person\/7de7c0dd14bee1a2c67f7ce86bc4505f\"},\"breadcrumb\":{\"@id\":\"https:\/\/seattlebubble.com\/blog\/2018\/11\/27\/case-shiller-seattle-is-1-for-month-over-month-price-declines\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/seattlebubble.com\/blog\/2018\/11\/27\/case-shiller-seattle-is-1-for-month-over-month-price-declines\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/2018\/11\/27\/case-shiller-seattle-is-1-for-month-over-month-price-declines\/#primaryimage\",\"url\":\"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2018\/11\/Case-ShillerHPI_MOM_2018-09.png\",\"contentUrl\":\"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2018\/11\/Case-ShillerHPI_MOM_2018-09.png\",\"width\":1491,\"height\":906},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/2018\/11\/27\/case-shiller-seattle-is-1-for-month-over-month-price-declines\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/seattlebubble.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Case-Shiller: Seattle is #1! \u2026for month-over-month price declines\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/#website\",\"url\":\"https:\/\/seattlebubble.com\/blog\/\",\"name\":\"Seattle Bubble\",\"description\":\"local\u00a0real\u00a0estate\u00a0news, statistics,\u00a0and\u00a0commentary without\u00a0the\u00a0sales\u00a0spin.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/seattlebubble.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/#\/schema\/person\/7de7c0dd14bee1a2c67f7ce86bc4505f\",\"name\":\"The Tim\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/#\/schema\/person\/image\/37756956c11dcc50d2559761ffa5ee70\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/19e5770990a1681615608091b2de571b10c3e03bbac7d07bb2ae15297ee72fbc?s=96&d=retro&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/19e5770990a1681615608091b2de571b10c3e03bbac7d07bb2ae15297ee72fbc?s=96&d=retro&r=g\",\"caption\":\"The Tim\"},\"description\":\"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. 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