{"id":16149,"date":"2011-06-28T07:38:48","date_gmt":"2011-06-28T14:38:48","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=16149"},"modified":"2015-07-25T15:05:47","modified_gmt":"2015-07-25T22:05:47","slug":"case-shiller-seattles-spring-bounce-picks-up-steam","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2011\/06\/28\/case-shiller-seattles-spring-bounce-picks-up-steam\/","title":{"rendered":"Case-Shiller: Seattle’s Spring Bounce Picks Up Steam"},"content":{"rendered":"

Let’s have a look at the latest data from the Case-Shiller Home Price Index<\/a>. According to April data,<\/p>\n

Up 1.6% March to April.
\nDown<\/em> 6.9% YOY.<\/strong>
\nDown<\/em> 29.7% from the July 2007 peak<\/p><\/blockquote>\n

Last year prices rose 1.0% from March to April and year-over-year prices were down 2.8%.<\/p>\n

Interesting that here in Seattle this year we’re getting a bigger spring bounce than last year, when the tax credit was juicing sales and everyone was making one last mad dash for the free government money.<\/p>\n

[Update]<\/em>
\nFYI, Tim was on the Ross and Burbank show on 97.3 KIRO<\/a> this morning. Here’s a brief excerpt from their story write-up<\/a>:<\/p>\n

Tim Ellis, with the Seattle Bubble, tells 97.3 KIRO FM’s Ross and Burbank that the increases are pretty standard for the spring.<\/p>\n

“Every spring prices tend to go up. It’s pretty seasonal and predictable.”
\n…
\nEllis says the only times in recent history when prices didn’t see a spring increase was in the thick of the crash.<\/p>\n

“In 2009, even through the spring, prices were falling pretty steadily,” says Ellis. He says against those numbers, there is reason to celebrate today. “It’s definitely optimistic in that we’re not crashing anymore, but it’s not like ‘Oh wow, let’s break out the champagne glasses and toast our equity all of a sudden.'”<\/p>\n

Ellis says these seasonal increases are to be expected, and doesn’t necessarily speak to a larger upward trend.<\/p><\/blockquote>\n

And here’s the audio (~10 minutes):<\/p>\n\nhttp:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2011\/06\/Ross-and-Burbank_Tim-Ellis.mp3<\/a><\/audio>\n

<\/div>\n

[End of Update]<\/em><\/p>\n

Here’s an interactive graph of all twenty Case-Shiller-tracked cities, courtesy of Tableau Software<\/a> (check and un-check the boxes on the right):<\/p>\n

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