{"id":1120,"date":"2007-09-25T10:15:16","date_gmt":"2007-09-25T17:15:16","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/2007\/09\/25\/case-shiller-seattle-stagnant-in-july\/"},"modified":"2007-09-25T10:17:13","modified_gmt":"2007-09-25T17:17:13","slug":"case-shiller-seattle-stagnant-in-july","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2007\/09\/25\/case-shiller-seattle-stagnant-in-july\/","title":{"rendered":"Case-Shiller: Seattle Stagnant in July"},"content":{"rendered":"<p>The prediction (<em>emphasis added<\/em>):<\/p>\n<blockquote><p>When July\u2019s housing stats came out last week, the most confusing piece of data was that despite skyrocketing local inventory and tightening lending across the nation, the median price still jumped up 2.3% from June, bouncing back into double-digit YOY territory at a 10.6% increase since July 2006.<\/p>\n<p>&#8230;<\/p>\n<p>I believe that almost all of last month\u2019s increase in the county-wide median can be attributed to this spike in sales on the Eastside.<\/p>\n<p>&#8230;<\/p>\n<p>I don\u2019t think this explains away all of the median price increase over the last few months, but I do think it accounts for a good portion of it, especially last month. In theory, if sales distributions are indeed skewing the median, <strong>we should see the YOY change in the Case-Shiller Index begin to diverge from the YOY change in the median<\/strong>, since the Case-Shiller method avoids this particular shortcoming. I\u2019ll keep you posted when July Case-Shiller data is released.<\/p>\n<p>&#8211; <a href=\"http:\/\/seattlebubble.com\/blog\/2007\/08\/14\/median-price-not-telling-the-whole-truth\/\" title=\"Median Price Not Telling the Whole Truth\">Median Price Not Telling the Whole Truth<\/a>, August 14<\/p><\/blockquote>\n<p>The data (<a href=\"http:\/\/www2.standardandpoors.com\/portal\/site\/sp\/en\/us\/page.topic\/indices_csmahp\/0,0,0,0,0,0,0,0,0,1,1,0,0,0,0,0.html\" title=\"S&amp;P\/Case-Shiller\u00ae Home Price Indices\">available here<\/a>):<\/p>\n<blockquote><p>Case-Shiller Home Price Index up <strong>0.2%<\/strong> June to July, <strong>6.86%<\/strong> YOY.<\/p><\/blockquote>\n<p>I don&#8217;t mind saying once in a while that it feels <em>good<\/em> to be right.  I&#8217;ll try not to let it go to my head.<\/p>\n<p>Here&#8217;s the usual graph, with L.A. &amp; San Diego offset from Seattle &amp; Portland by 17 months, to give you an idea of how closely we&#8217;re following their lead:<\/p>\n<p style=\"margin: 5px auto; width: 400px; font-size: 0.8em; text-align: center\"><a href=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2007\/09\/case-shillerhpi_westcoast200707.png\" title=\"Case-Shiller HPI July 2007 - Click to enlarge\" rel=\"lightbox[1120]\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2007\/09\/case-shillerhpi_westcoast200707-tn.png\" style=\"border: 1px solid #000000; margin: 5px\" title=\"Case-Shiller HPI July 2007 - Click to enlarge\" alt=\"Case-Shiller HPI July 2007\" height=\"273\" width=\"400\" \/><\/a><br \/>\n<a href=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2007\/09\/case-shillerhpi_westcoast200707.png\" title=\"Case-Shiller HPI July 2007 - Click to enlarge\" rel=\"lightbox[1120]\">Click to enlarge<\/a><\/p>\n<p>There&#8217;s really not much else to say about the latest data.  It shows pretty much exactly what I&#8217;ve been expecting.  Let&#8217;s just say that we&#8217;re currently on track for a <em>very interesting<\/em> spring.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The prediction (emphasis added): When July\u2019s housing stats came out last week, the most confusing piece of data was that despite skyrocketing local inventory and tightening lending across the nation, the median price still jumped up 2.3% from June, bouncing back into double-digit YOY territory at a 10.6% increase since July 2006. &#8230; I believe&#8230;<\/p>\n","protected":false},"author":2,"featured_media":0,"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":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[],"tags":[86,149],"coauthors":[],"class_list":["post-1120","post","type-post","status-publish","format-standard","hentry","tag-case-shiller","tag-median"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Case-Shiller: Seattle Stagnant in July \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\/2007\/09\/25\/case-shiller-seattle-stagnant-in-july\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Case-Shiller: Seattle Stagnant in July \u2022 Seattle Bubble\" \/>\n<meta name=\"twitter:description\" content=\"The prediction (emphasis added): When July\u2019s housing stats came out last week, the most confusing piece of data was that despite skyrocketing local inventory and tightening lending across the nation, the median price still jumped up 2.3% from June, bouncing back into double-digit YOY territory at a 10.6% increase since July 2006. &#8230; 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